{"id":209037,"date":"2024-02-29T17:53:06","date_gmt":"2024-02-29T17:53:06","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/02\/29\/morgan-stanley-reportedly-eyeing-spot-bitcoin-etfs-as-demand-shows-no-sign-of-slowing\/"},"modified":"2025-06-25T17:21:26","modified_gmt":"2025-06-25T17:21:26","slug":"morgan-stanley-reportedly-eyeing-spot-bitcoin-etfs-as-demand-shows-no-sign-of-slowing","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/02\/29\/morgan-stanley-reportedly-eyeing-spot-bitcoin-etfs-as-demand-shows-no-sign-of-slowing\/","title":{"rendered":"Morgan Stanley reportedly eyeing spot Bitcoin ETFs as demand shows no sign of slowing"},"content":{"rendered":"

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The Wall Street behemoth is carrying out due diligence on the products, according to sources close to the matter, CoinDesk reported<\/a>. If approved, Morgan Stanley<\/a> would be the first among large registered investment advisor (RIA) networks and broker-dealer platforms to list the ETFs, potentially opening the floodgates for the likes of Merrill Lynch or Wells Fargo<\/a> to turbocharge inflows.<\/p>\n

Morgan Stanley declined to comment when reached by Fortune<\/em>.<\/p>\n

As Bitcoin edges closer to its all-time high of $69,000<\/a> \u201copening the floodgates through more access points could support further buoyancy for Bitcoin,\u201d Vetle Lunde, a senior analyst at K33, told Fortune<\/em>. <\/p>\n

The 10 currently traded U.S. spot Bitcoin ETFs set a new record for daily trading volumes on Wednesday, with more than $7.6 billion in activity, according to Bloomberg<\/em> data. The day before, BlackRock<\/a> saw $520 million flood into its ETF iShares Bitcoin Trust (IBIT), marking the largest daily inflow so far.<\/p>\n

\u201cWord is wirehouse platforms are seriously looking at adding them soon. I\u2019m sure pressure is mounting for them\u201d as ETF inflows continue to accelerate, Bloomberg\u2019s Eric Balchunas tweeted<\/a> on Wednesday, referring to large broker-dealers<\/a>. \u201cWith grassroots demand like this they gonna have to expedite.\u201d<\/p>\n

He added: \u201cImagine being [a] Morgan adviser and your client wants IBIT and you have to be like \u2018I don\u2019t have access to it, my mommy (the platform gatekeeper) won\u2019t allow it.\u2019 That\u2019s gotta be embarrassing.\u201d<\/p>\n

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RIDIC: the New Nine doubled their volume record (set Monday) with just about $6b traded.. $IBIT<\/a> led w $3.3b of it, Fidelity did $1.4b (both double their prev records). The total number of trades was double too, over half a million individual trades bt them. $IBIT<\/a> alone > $QQQ<\/a>. pic.twitter.com\/ZzB5PWXA4f<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) February 28, 2024<\/a><\/p><\/blockquote>\n

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\u201cThese networks and platforms are the addressable market for Bitcoin that the ETFs were always supposed to open up. We know of other big wirehouses or advisor platforms that have approved some of these ETFs for trading already,\u201d Bloomberg analyst James Seyffart told Fortune<\/em>. \u201cI think eventually the vast majority of platforms, if not all, will approve these things.\u201d<\/p>\n

But it may take the larger platforms a bit longer to establish these vehicles because of longer due diligence processes, Seyffart added.<\/p>\n

With over $150 billion in assets under management, Morgan Stanley first offered clients access to Bitcoin via a pair of external crypto funds in 2021, and was the first major bank to do so. The funds were offered by Galaxy Digital and NYDIG for qualified investors.<\/p>\n

If platforms like Morgan Stanley list the ETFs, the educational element will be the most significant long-term consequence for Bitcoin\u2019s trajectory, Andy Baehr, head of product at CoinDesk Indices, told Fortune<\/em>.<\/p>\n

\u201cAdvisors can talk about Bitcoin during their day jobs,\u201d Baehr said, \u201cand really think about how it can help contribute to portfolios on such massive scales like this.\u201d<\/p>\n<\/div>\n