The bank is implementing a policy change requiring customers to seek the assistance of their advisors at the brokerages. This shift will pave the way for solicited purchases, which will come with risk tolerance requirements, as well as limits on allocation and trading frequency. In a move akin to Morgan Stanley’s strategy, the bank will also limit purchases to a non-advisory basis. The increasing demand for Bitcoin ETFs among institutional players has been underscored by Morgan Stanley’s recent decision.
A Morgan Stanley executive highlighted the growing interest among their clientele, acknowledging that Bitcoin is still considered a speculative asset for many. The influx of Bitcoin ETFs has significantly impacted the cryptocurrency market, leading to substantial inflows. While other issuers have witnessed declining performance, the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) have seen inflows of $5.6 million and $4.2 million, respectively. The total Bitcoin ETF market in the U.S. has reached approximately $12.3 billion.
