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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 after the U.S. Securities and Exchange Commission approved several U.S.-listed ETFs last month who 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 approval, with Grayscale Bitcoin Trust (GBTC), BlackRock’s (BLK) iShares Bitcoin Trust ETF (IBIT) and Fidelity Wise Origin Bitcoin Fund ETF (FBTC) holding the greatest number of assets. .
Morgan Stanley (MS) has been weighing whether to offer bitcoin (BTC-USD) spot ETFs to clients following SEC approval, CoinDesk reported, citing a person familiar with the matter. The report does not specify which of the 10 bitcoin spot ETFs (BTC-USD) Morgan Stanley (MS) plans to offer to its clients.
This wouldn’t be Morgan Stanley’s first foray into the world of cryptocurrencies. In 2021, the Wall Street giant offered its wealthy clients access to bitcoin (BTC-USD) funds, before other major US banks followed suit.