Insider information indicates that in the next two weeks, the financial behemoth Morgan Stanley is anticipated to allow Bitcoin ETFs on its platform, indicating a major shift in the Bitcoin landscape.
This groundbreaking news was first announced by well-known cryptocurrencycurrency analyst Andrew from Arch Public (@AP_Abacus) via X (formerly Twitter).
“UPDATE: Multiple sources affirm that within the next two weeks, Morgan Stanley plans to accept Bitcoin ETFs on its platform. The sources come from legal insiders close to both MS and BTC ETF businesses. According to Andrew, Morgan Stanley has more than $1.5 trillion in client assets.
This comment has sparked speculation and curiosity in the financial and Bitcoin circles.
Eric Balchunas, a Bloomberg ETF specialist, responded to Andrew’s tweet with a mix of enthusiasm and suspicion, asking, “Feels right, not doubting you, but what’s the source?” In order to preserve his informants’ secret, Andrew replied with a simple “DM,” which denotes a private messaging conversation for additional details.
This announcement is not entirely shocking, as there have been rumors since late February about Morgan Stanley’s interest in Bitcoin exchange-traded funds (ETFs).
The financial behemoth has reportedly been subjecting its spot Bitcoin ETF products to due diligence processes before to offering them as part of its brokerage services. Individuals with expertise in the field contributed these specifics.
Ten spot bitcoin ETFs are currently available on the US market, with BlackRock’s IBIT and Fidelity’s FBTC leading the way in assets. Although Morgan Stanley has not yet revealed its exact ETF offerings, its prior methodology suggests that they prioritize customer demand and innovation.
The possibility that Morgan Stanley will approve Bitcoin ETFs emphasizes how increasingly integrated they are becoming into traditional finance, which might increase market power and ETF inflows.
