Morgan Stanley (NYSE:MS) is considering offering spot bitcoin (BTC-USD) exchange-traded funds to customers of its broker-dealer platform, according to a media report dated Wednesday.
The news comes about after the U.S. Securities and Exchange Commission approved last month multiple U.S.-listed ETFs that invest directly in bitcoin (BTC-USD), a move that broadens access to the highest-profile cryptocurrency.
Indeed, billions of dollars have already been invested in such products since the approval, with Grayscale Bitcoin Trust (GBTC), BlackRock’s (BLK) iShares Bitcoin Trust ETF (IBIT) and Fidelity’s Fidelity Wise Origin Bitcoin Fund ETF (FBTC) having the most assets.
Morgan Stanley (MS) has been assessing whether to offer spot bitcoin (BTC-USD) ETFs to clients since the SEC’s approval, CoinDesk reported, citing one person with knowledge of the matter. The report did not specify which of the 10 spot bitcoin (BTC-USD) ETFs Morgan Stanley (MS) is looking to offer its clients.
This would not be Morgan Stanley’s first foray into crypto. In 2021, the Wall Street titan offered its wealthy clients access to bitcoin (BTC-USD) funds, before other major U.S. banks followed suit.