Morgan Stanley could soon allow its 15,000 brokers to recommend Bitcoin (BTC) exchange-traded funds (ETF) to their clients, AdvisorHub reported on April 24.
The financial behemoth had initially greenlit BTC ETF purchases following approval earlier this year. However, these transactions were strictly initiated by customers, necessitating them to proactively engage with their advisors to delve into this asset class.
Now, the institution is contemplating a shift to allow its brokers to actively promote BTC ETFs, potentially amplifying demand for these investment vehicles. However, such a move also comes with added exposure to legal ramifications.
Meanwhile, the Wall Street giant is working on establishing clear guidelines, or “guardrails,” for solicited purchases. These guidelines may include risk tolerance assessments and allocation and trading frequency limits.
An unnamed Morgan Stanley executive reportedly said:
“We’re going to make sure that we’re very careful about it
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