Morgan Stanley (NASDAQ:MS) has taken a major step toward crypto mainstream adoption by removing all restrictions on client access to digital asset funds, a move celebrated by Bitcoin advocate Michael Saylor.
What Happened: The Wall Street giant informed its financial advisors that, starting Oct. 15, all wealth management clients, including those with retirement accounts, can now invest in crypto funds.
Previously, such access was limited to high-net-worth investors with aggressive risk profiles and taxable brokerage accounts, CNBC reported.
Saylor lauded the step as “another milestone in Bitcoin’s institutional adoption” in a tweet on Friday.
This marks a significant expansion at the world’s largest wealth manager, which oversees $8.2 trillion in assets. The decision follows Morgan Stanley’s recent enablement of crypto trading via its E*Trade online brokerage platform, allowing exposure to Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL).
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Why It Matters: To ensure proper risk management, Morgan Stanley will deploy automated monitoring systems and follow new internal guidelines recommending up to a 4% maximum initial crypto allocation, depending on investor goals and profiles.
Currently, advisors can offer Bitcoin funds from BlackRock and Fidelity, though the bank plans to expand its lineup as the market matures.
Morgan Stanley’s crypto journey dates back to 2011, when it first introduced Bitcoin investment access for its wealthiest clients.
The firm last month partnered with Zerohash, a crypto and stablecoin infrastructure provider, to enable direct trading of BTC, ETH, and SOL through E*Trade.
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