Wall Street Embraces Bitcoin: Morgan Stanley’s 15,000 Advisors to Offer BTC ETFs Starting Today

• Leading global financial firm Morgan Stanley is entering the Bitcoin ETF fray. Its 15,000 advisors will begin offering BTC ETFs today.
• Though this underscores the progressive acceptance of the digital asset, it comes amidst heightened volatility.

Morgan Stanley, a leading financial giant, has announced that it will begin offering Bitcoin spot ETFs starting August 8th. Earlier this year, the U.S. SEC approved 11 spot Bitcoin ETFs, with BlackRock emerging as the most successful in the months that followed, with more than $20 billion flowing into the investment vehicle.

Morgan Stanley, another financial heavy hitter, has now entered the space with its 15,000 advisors offering Bitcoin ETFs to large investors. These advisors are only allowed to offer their clients shares of BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC).

This development underscores the progressive acceptance of the crypto industry despite its wide regard as highly speculative. A source familiar with the offering reveals that only investors with a net worth above $1.5 million can invest in the ETFs. The investment bank believes that these investors have a higher risk tolerance. The community welcomes these investors because they can buy and hold large stashes even during market uncertainty.

Notably, the development could reflect a changing regulatory landscape, with the two leading U.S. presidential candidates pronouncing their support for the industry and vowing to work to make the country a leading financial powerhouse driven by cryptocurrencies.

Celebrating the recent development, Scott Melker, popularly known on the X platform as “The Wolf Of All Streets,” stated:

This move reflects growing client demand and signifies a major step in Bitcoin’s mainstream adoption. Only clients with a net worth of at least $1.5 million, high risk tolerance, and an interest in speculative investments are eligible, and these investments are limited to taxable brokerage accounts.

Amidst political and economic uncertainty globally, the crypto community foresees billions of dollars flowing into the ETFs because the investment bank’s clientele holds $5.7 trillion in client assets. If a fraction of this flows into Bitcoin, this will lead to a price rally to a new all-time high.

The launch of the Bitcoin spot ETFs ushered in a new all-time high for the crypto king and a new era for the industry. Since the approval of the Bitcoin ETF, the industry has further welcomed Ethereum ETFs, with a promise of more crypto ETFs hitting the market before the end of the year.

It remains unclear if the advisors will soon recommend Ethereum ETFs or any other crypto ETFs to investors.

At the time of writing, BTC is trading for $56,245 after a market rebound from its recent $49,500 low reached at the start of the week.  With an all-time high of $75,300 reached in March, investors remain optimistic of reaching $100,000 by the end of the year.