The brokerage firm is laying out risk managing requirements for solicited purchases of bitcoin ETFs, AdvisorHub reported.
Morgan Stanley may allow its 15,000 brokers to recommend that customers purchase spot bitcoin exchange-traded funds, according to a report from AdvisorHub on Thursday, which cited two senior executive sources familiar with the company’s plans.
Major brokerage firms including Morgan Stanley, Merrill Lynch, and Wells Fargo began offering spot bitcoin ETFs following their January debut but limited purchases to an unsolicited basis, where customers would need to reach out to their advisors.
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