Morgan Stanley lets clients invest in Bitcoin Spot ETFs

It now seems official: the US major bank, Morgan Stanley, is offering its clients the opportunity to invest in various Bitcoin Spot ETFs. This reports US news channel CNBC based on sources close to the company. There is no official confirmation from Morgan Stanley yet.

There had been rumors about this move since last Friday. Bloomberg was the first to report the news then. The bank's roughly 15,000 advisers may initially offer clients BlackRock and Fidelity index funds, it said.

There are restrictions, however. Only clients with net assets of at least $1.5 million and an "aggressive risk tolerance" are eligible. Still, Morgan Stanley is setting in motion the next wave of adoption with this. Crypto is increasingly becoming part of the traditional financial system.

With the sudden wave of selling in the crypto markets, Bitcoin Spot ETFs also saw outflows. Investors became uncertain about the market situation. Both Monday and Tuesday saw significant outflows in the index funds ($168.4 million and $148.6 million).

The Morgan Stanley financial institution is the sixth largest bank in the US and manages about $7.2 trillion.