According to a statement released by AdvisorHub, Morgan Stanley could permit 15,000 brokers to suggest buying spot bitcoin exchange-traded funds.
The company is supposedly laying the ground for the suggested buying and the need related to risk factors and bindings on distribution and trading times. Still, in the case of some senior representatives, they were not at all clear regarding a deadline being set for the same.
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In the case of the big-time brokers, including Morgan Stanley, Merrill Lynch, and Wells Fargo, they initiated the provision of spot bitcoin ETFs after the January release. However, there were restricted buying when up against unrecommended situations, wherein clients would need to connect with their advisors in this regard.
There has been a substantial net inflow amounting to $12.29 billion from US-traded spot bitcoin ETFs pertaining to prime financial institutions, such as BlackRock, Grayscale and Ark Invest. Added to that is the amount of more than $53.6 billion in terms of assets under control.
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Where BlackRock is concerned, its IBIT spot bitcoin fund stands for 24% of all the collective inflows from 1,000 ETFs.
