Morgan Stanley Expands Crypto Access to All Wealth Management Clients
Morgan Stanley will expand cryptocurrency investment access for all its wealth management clients, effective next Wednesday.
Previously restricted to clients with a minimum of $1.5 million in assets and aggressive risk profiles, crypto investments will now be available regardless of risk tolerance or net worth.
This change applies to all account types, including retirement plans.
The expansion indicates a shift towards accepting cryptocurrencies as a long-term asset class among traditional Wall Street firms.
Pressure from the success of crypto vehicles like BlackRock's iShares Bitcoin Trust, which manages nearly $100 billion in assets, may influence this decision.
Vanguard, typically crypto-skeptical, is also reportedly considering offering spot crypto ETFs.
Morgan Stanley declined to comment on the matter when contacted.
