Morgan Stanley Expands Crypto Access to Entire Client Base as Wall Street Embraces Digital Assets – CNBC

Morgan Stanley Expands Crypto Access to All Wealth Management Clients

Morgan Stanley is opening cryptocurrency investments to all wealth management clients, signaling a broader shift among traditionally cautious Wall Street institutions, CNBC reported Wednesday.

Starting next Wednesday, the bank’s financial advisors will be able to offer crypto investments regardless of client risk tolerance or net worth, across all account types, including retirement plans. Previously, crypto access was restricted to clients with at least $1.5 million in assets, an aggressive risk appetite, and a taxable brokerage account.

The move represents a major expansion for Morgan Stanley’s $8.2 trillion wealth and investment management business and reflects growing acceptance of crypto as a mainstream asset class.

It also highlights pressure on legacy firms as crypto investment vehicles gain popularity. BlackRock’s iShares Bitcoin Trust (IBIT), for example, has become the asset manager’s most profitable ETF, managing nearly $100 billion in under two years. Even Vanguard, historically cautious on crypto, is reportedly exploring spot crypto ETFs—a notable reversal from just a year ago.

Morgan Stanley did not respond to requests for comment when contacted by CoinDesk.

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