According to insider information, the financial industry giant Morgan Stanley is expected to approve Bitcoin ETFs on its platform in the next two weeks, signaling a significant change in the Bitcoin space.
Renowned cryptocurrency analyst Andrew from Arch Public (@AP_Abacus) initially revealed this ground-breaking news via X (previously Twitter).
“UPDATE: several sources confirming that Morgan Stanley is set to approve Bitcoin ETF’s on their platform in the next two weeks. Sources are from inside MS, inside BTC ETF firms, and legal insiders adjacent to both. Morgan Stanley holds more than $1.5T in client assets,” states Andrew.
The financial and Bitcoin communities have been interested in and speculative about this comment.
In response to Andrew’s tweet, Bloomberg ETF specialist Eric Balchunas displayed a mix of skepticism and hope when he said, “Feels right, not doubting you, but what’s the source?” To protect the privacy of his informants, Andrew simply answered, “DM,” signifying a private messaging discussion for more information.
Since there have been whispers since late February regarding Morgan Stanley’s interest in Bitcoin exchange-traded funds (ETFs), this disclosure is not wholly surprising.
According to reports, the financial giant has been putting its spot Bitcoin ETF products through due diligence procedures before adding them to its brokerage services. These details were provided by people who are knowledgeable about the subject.
The SEC’s approval of spot BTC ETFs in January marked a pivotal moment. As they become accessible through major RIA networks and broker-dealer platforms, including those linked with Merrill Lynch, Morgan Stanley, and Wells Fargo, their full potential is expected to be realized.
The US market now offers 10 spot bitcoin ETFs, led by BlackRock’s IBIT and Fidelity’s FBTC in assets. Morgan Stanley’s specific ETF offerings are yet to be disclosed, but their past approach indicates a focus on innovation and client demand.
Morgan Stanley’s potential approval of Bitcoin ETFs highlights their growing integration into traditional finance, potentially boosting market influence and ETF inflows.
Also Read: Morgan Stanley Promote Jeff McMillan as Head of Firmwide AI
