Key Takeaways
- Morgan Stanley’s holdings in BlackRock’s Bitcoin ETF quantity to $187 million.
- The agency has enabled its advisors to pitch spot Bitcoin ETFs to pick purchasers.
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Wall Avenue titan Morgan Stanley held round $187 million value of BlackRock’s iShares Bitcoin Belief (IBIT), as of June 30, based on a latest 13F submitting shared by MacroScope. The quantity is equal to over 5.5 million IBIT shares.
The funding positions the financial institution alongside different main IBIT holders like Millennium Administration, Capula Administration, and Goldman Sachs, which lately disclosed a $400 million funding in US spot Bitcoin exchange-traded funds (ETFs), together with round $238 million in IBIT.
Earlier this month, Morgan Stanley introduced it could enable its 15,000 monetary advisors to advocate spot Bitcoin ETFs to pick high-net-worth purchasers beginning August 7. The 2 merchandise are BlackRock’s IBIT and Constancy’s Smart Origin Bitcoin Fund (FBTC).
John Reed Stark, a former SEC official and famous crypto skeptic, expressed issues in regards to the compliance challenges the transfer would possibly entail.
“By unleashing its legion of 15,000 brokers to pitch Bitcoin, Morgan Stanley has simply voluntarily subjected themselves to what’s going to doubtless change into the most important SEC and FINRA examination sweep in historical past,” Stark acknowledged.
He additional warned, “Figuring out violations will likely be like taking pictures fish in a barrel.”
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