Morgan Stanley, Goldman Sachs, and Wells Fargo Move into Bitcoin ETFs

Morgan Stanley has made headlines by becoming the first major Wall Street bank to allow its financial advisors to recommend Bitcoin exchange-traded funds (ETFs) to eligible clients. Starting August 7, 2024, Morgan Stanley’s 15,000 advisors can solicit clients to invest in two prominent Bitcoin ETFs: BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund.

Goldman Sachs has also disclosed substantial investments in Bitcoin ETFs, further highlighting the increasing institutional interest in cryptocurrency. According to recent filings with the SEC, Goldman Sachs holds millions in various Bitcoin ETFs, including notable positions in the Bitwise Bitcoin ETF and ARK 21Shares Bitcoin ETF.

Wells Fargo, another major player in the financial sector, has also begun exploring Bitcoin ETFs, though the bank remains more cautious than its peers. While it allows Bitcoin ETF trades at client request, it has not yet permitted its advisors to actively pitch these products.

Bitcoin Versus is not a financial advisor. This media platform reports on financial subjects purely for educational and entertainment purposes only. Do your own due diligence and contact a professional financial advisor for any advice on how to invest your money.