Reported by Coindesk, Wall Street giant Morgan Stanley is in the midst of performing due diligence to add spot bitcoin ETF products to its brokerage platform, according to two people with knowledge of the matter.
One of the people said Morgan Stanley, which is among the largest U.S. broker-dealer platforms, has been evaluating offering spot bitcoin ETFs to clients since the Securities and Exchange Commission approved their introduction in the U.S. in January.
Although billions of dollars have already been invested in these products, the investment floodgates might not open until the bitcoin ETFs are offered by big registered investment advisor (RIA) networks and broker-dealers platforms such as those attached to firms like Merrill Lynch, Morgan Stanley, Wells Fargo and others.
There are 10 spot bitcoin ETFs now trading in the U.S. The ones with the most assets are Grayscale's GBTC, BlackRock's IBIT and Fidelity's FBTC. It’s not clear which ones Morgan Stanley is looking to offer to its clients.
Bitcoin
