$1.3 trillion asset manager Morgan Stanley is reportedly looking into adding a Spot Bitcoin ETF to its brokerage platform. Indeed, the firm is considering the possibility of adding the investment vehicle to its broker-dealer offerings, according to a recent CoinDesk report.
The sources say that the investment bank has been exploring the idea since the US Securities and Exchange Commission (SEC) first approved the products in January. Since then, the fund shave proven tremendously successful, with 9 of those approved ETFs breaking the all-time daily volume record, according to Bloomberg’s Erich Balchunas.
Also Read: Analysts Predict Bitcoin ETFs to Gold ETFs In AUM in Less Than 2 Years
Morgan Stanley May Get In On Spot Bitcoin ETF Success
Since the start of 2024, the digital asset industry has had high hopes regarding Bitcoin. Specifically, that anticipation was closely connected to the approval of 11 Spot Bitcoin ETFs. Just two months into the year, those investment products have been highly successful. Now, one major asset manager is seeking to get in on that success.
Investment bank Morgan Stanley is reportedly considering offering a Spot Bitcoin ETF to its customers. Indeed, the $1.3 trillion asset manager is doing its “due diligence” regarding the introduction of the investment vehicle to its customer base, according to the CoinDesk report.
Also Read: Total Spot Bitcoin ETF Trading Volume Surpasses $3B Again
The sources claim that Morgan Stanley began research on the investment offering after the SEC approvals in January. Since then, the products have been an enormous success, less by BlackRock. Specifically, its IBTI Bitcoin ETF has broken the daily trading volume record for two consecutive days, as it is set to pass the $1 billion mark again today.
The presence of the ETFs has catapulted Bitcoin. The asset has been on a massive surge today, surpassing the $61,000 mark. BTC had not reached such heights since November of 2021. Moreover, it is expected to continue its upward trajectory, with the Bitcoin Halving event nearing.