spot Bitcoin ETFs will soon be available to Morgan Stanley’s wealthy clients

spot Bitcoin ETFs- Morgan Stanley is preparing to offer Bitcoin ETFs to its upscale clients

Spot Bitcoin ETFs– According to CNBC, Wall Street giant Morgan Stanley (MS) will allow its advisers to offer Bitcoin (BTC) exchange-traded funds (ETFs) to wealthy clients starting Wednesday.

Morgan Stanley is enabling its more than 15,000 financial advisers to sell shares of BlackRock’s IBIT and Fidelity’s FBTC, CNBC reported on Friday, citing sources familiar with the matter. Clients will need to have a net worth of at least $1.5 million to invest.

The approval of spot Bitcoin ETFs in the U.S. in January raised expectations that these investment products would attract significant interest from financial institutions. However, large firms like Morgan Stanley typically face extensive compliance and review procedures before they can offer new funds to their clients.

The bank, which manages $1.5 trillion in assets, made this move in response to client demand, according to the report.

As of March 31, Morgan Stanley held $269.9 million in Grayscale’s Bitcoin Trust (GBTC), suggesting that the firm may have been planning to offer ETFs to its clients eventually.

The bank has not yet responded to CoinDesk’s request for comment.

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