Morgan Stanley to Allow Brokers to Recommend Bitcoin ETFs to Customers

Morgan Stanley is reportedly considering allowing its brokers to recommend bitcoin exchange-traded funds (ETFs) to customers, potentially becoming the first among its peers to do so. The bank currently allows ETF purchases, but only on an unsolicited basis. Allowing brokers to pitch bitcoin ETFs directly to customers could bring substantial inflows into the funds, which allow customers to invest in bitcoin without direct exposure. The move follows the Securities and Exchange Commission's approval of 11 spot bitcoin ETFs in January, which brought massive inflows into the funds and bitcoin, but which have since dwindled.