Fun

Morgan Stanley advisers can officially pitch Bitcoin ETFs

News Feed - 2024-08-08 02:08:22

Alex O’Donnell6 hours agoMorgan Stanley advisers can officially pitch Bitcoin ETFsFor now, the advisory platform is only recommending ETFs from BlackRock and Fidelity.2960 Total views3 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onMorgan Stanley, the largest wealth manager in the United States, authorized its 15,000 financial advisers to start recommending Bitcoin (BTC) exchange-traded funds (ETFs) to clients on Aug. 7, a person familiar with the matter told Cointelegraph. 


The person, who was not authorized to speak publicly on the matter, confirmed an earlier CNBC report, which said the financial advisory planned to start recommending BTC ETFs on Aug. 7. For now, Morgan Stanley is only recommending two products: BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).


Winning over Morgan Stanley is a milestone for crypto. Among wirehouses, Morgan Stanley is the largest. Its advisory network manages some $3.75 trillion, including $1 trillion in self-directed client accounts, according to financialplanning.com.Morgan Stanley advisers are only recommending ETFs from BlackRock and Fidelity. Source: Fidelity


Related:Crypto ready for next phase of adoption: Winning over financial advisers


BlackRock’s IBIT and Fidelity’s FBTC are emerging as blue chips among BTC ETFs. They are seeing adoption not only among wirehouses like Morgan Stanley but also among independent financial advisers, Roxanna Islam, head of sector and industry research at VettaFi — a fund researcher — told Cointelegraph.


“Since the launch of these spot crypto ETPs, demand has been strong across all client segments, which is exciting to see the potential this asset class brings amongst retail investors, RIAs, institutional investors and beyond,” Matt Horne, head of digital asset strategists at Fidelity Investments, told Cointelegraph.


Continued uptake by leading advisory platforms could spur a surge of inflows from advisers into spot BTC ETFs, Matthew Sigel, VanEck’s head of digital assets research, told Cointelegraph.


Until now, the largest financial advisory firms, known as wirehouses, have been hesitant to embrace spot crypto ETFs. Inflows from financial advisers were previously limited to independent shops, known as registered investment advisors (RIA).


“The RIA community tends to be early on the investment adoption curve — they were early adopters of the ETF vehicle — and that adoption continued with the recent spot crypto ETPs,” Horne said.


Magazine:How crypto bots are ruining crypto — including auto memecoin rug pulls# Bitcoin# Cryptocurrencies# Business# Bitcoin Price# Investments# SEC# Bitcoin Regulation# Adoption# United States# Morgan Stanley# Trading# Bitcoin ETFAdd reaction

News Feed

Uniswap (UNI) hits 2-year high as fee share proposal deadline approaches
Nancy Lubale4 hours agoUniswap (UNI) hits 2-year high as fee share proposal deadline approachesDEX users’ support of a fee share proposal for Uniswap appears to be backing UNI’s rally to a two-year price high.406 Tot
Brazilians Will Be Able to Pay Taxes With Crypto
Brazilians Will Be Able to Pay Taxes With Crypto Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is la
OpenAI launches new super-efficient, low-latency ‘GPT-4o mini’
Tristan Greene3 hours agoOpenAI launches new super-efficient, low-latency ‘GPT-4o mini’The new model purportedly offers comparable performance at a fraction of the cost.813 Total views1 Total sharesListen to article
Onchain Data Shows Terra’s Luna Foundation Continues to Stack Bitcoin
Onchain Data Shows Terra"s Luna Foundation Continues to Stack Bitcoin This week there’s been a lot of talk about Terra’s Luna Foundation purchasing bitcoin to hold in
World’s Largest NFT Marketplace Opensea Reveals Drop Improvements, Arbitrum L2 Support
World"s Largest NFT Marketplace Opensea Reveals Drop Improvements, Arbitrum L2 Support The largest non-fungible token (NFT) marketplace by sales volume, Opensea, has announced a ne
Japanese Yen Plunges to 32-Year Low Against US Dollar — Another Intervention by Authorities Expected
Japanese Yen Plunges to 32-Year Low Against US Dollar — Another Intervention by Authorities Expected The Japanese yen’s exchange rate versus the U.S. dollar recently plunge
Kim Dotcom Says Bitcoin Cash ‘Great for Payments,’ Expects BCH to Cross $3K in 2021
Kim Dotcom Says Bitcoin Cash "Great for Payments," Expects BCH to Cross $3K in 2021 On December 17, the internet entrepreneur and political activist Kim Dotcom s
Do Kwon’s Extradition Likely to Take Time, Montenegrin Prosecutor Says
Do Kwon’s Extradition Likely to Take Time, Montenegrin Prosecutor Says A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indica
‘Tone deaf’ — US moves $2B Silk Road BTC after Trump’s stockpile pledge
Tom Mitchelhill6 hours ago‘Tone deaf’ — US moves $2B Silk Road BTC after Trump’s stockpile pledgeThe move comes just two days after Donald Trump declared he would create a “strategic national Bitcoin stockpile
Dogecoin Still In Play As Price Gears Up For Another 600% Run Above $2
Este artículo también está disponible en español. Despite the recent Dogecoin pullback, crypto analyst Javon Markshas provided a bullish outlook for the foremost meme coi
US Presidential Election Unlikely to Alter Bitcoin’s Path: Analyst
US Presidential Election Unlikely to Alter Bitcoin"s Path: Analyst Crypto analyst George McDonaugh says that the U.S. presidential election is unlikely to change
12 Companies Keep Close to $700 Million in Ethereum in Treasuries
12 Companies Keep Close to $700 Million in Ethereum in Treasuries During the last year, there’s been a lot of discussion concerning bitcoin treasuries or public firms puttin