Morgan Stanley Becomes First Wall Street Giant To Let Advisors Recommend Bitcoin ETFs
Portfolio Pulse from Benzinga Advisor
Morgan Stanley has become the first major Wall Street bank to allow its financial advisors to recommend Bitcoin ETFs to clients. Advisors can now offer BlackRock’s iShares Bitcoin Trust (NYSE:IBIT) and Fidelity’s Wise Origin Bitcoin Fund (NYSE:FBTC) to eligible clients. This move marks a significant step in the mainstream adoption of cryptocurrency.
August 18, 2024 | 2:00 pm
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POSITIVE IMPACT
Fidelity’s Wise Origin Bitcoin Fund (NYSE:FBTC) is now recommended by Morgan Stanley advisors, potentially increasing its adoption and trading volume.
Being recommended by Morgan Stanley advisors could lead to increased adoption and trading volume for Fidelity’s Wise Origin Bitcoin Fund, positively impacting its performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
BlackRock’s iShares Bitcoin Trust (NYSE:IBIT) is now recommended by Morgan Stanley advisors, potentially increasing its adoption and trading volume.
Being recommended by Morgan Stanley advisors could lead to increased adoption and trading volume for BlackRock’s iShares Bitcoin Trust, positively impacting its performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Morgan Stanley has become the first major Wall Street bank to allow its financial advisors to recommend Bitcoin ETFs to clients, marking a significant step in cryptocurrency’s mainstream adoption.
Morgan Stanley's decision to allow advisors to recommend Bitcoin ETFs is a significant move that could attract more clients interested in cryptocurrency, potentially boosting the bank's revenue and stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100