Wednesday, December 8, 2021
Home Crypto News Market Morgan Stanley Stopped Its Financial Advisors From Offering Clients Newly Launched Bitcoin...

Morgan Stanley Stopped Its Financial Advisors From Offering Clients Newly Launched Bitcoin Futures ETF

- Advertisement -

Morgan Stanley, one of the leading US investment banks, has stopped its financial advisors from offering clients a Bitcoin futures ETF launched by ProShares.

The institution is in the process of evaluating the prospectus and conducting due diligence on the BTC ETF.

Business Insider writes:

“Morgan Stanley is not allowing its financial advisors to immediately offer clients the brand-new bitcoin futures-based exchange-traded fund that started trading on Tuesday, a person familiar with the matter said. 

The firm is in the process of evaluating the product’s prospectus and conducting due diligence on the fund, according to the person, who spoke anonymously to discuss a company policy.”

Bank representatives declined to comment on the publication.

The ProShares Bitcoin Futures ETF made its second-largest trading debut. Bitcoin Futures ETF Becomes Second-Highest Traded Fund Ever, Almost Trading $1 Billion On the First Day.


Mark Hefele, chief investment officer at UBS Global Wealth Management noted that his firm tells clients to consider investments other than crypto. According to him, the organization considers crypto products only for speculative-minded investors with a high-risk appetite.

Recall that in March, CNBC announced Morgan Stanley’s plans to open access to bitcoin funds to accredited investors with a capital of at least $2 million.

In June, asset managers from New York Digital Investment Group and FS Investments filed an application with the SEC to register a bitcoin fund intended for Morgan Stanley clients.

In September, Morgan Stanley formed a team that focuses on studying the impact of cryptocurrencies on equities and fixed income instruments.

- Advertisement -
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade and write on cryptocurrencies. My primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic will be providing accurate information about cryptocurrencies topics that users can trust.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Largest Bank In Colombia To Offer BTC, ETH, LTC, And BCH Trading Services With Help Of Gemini

Gemini cryptocurrency exchange has entered into a partnership with the largest bank in Colombia, Bancolombia, under which the bank's clients will have access to...

3Space Art Announces the Launch of Its Groundbreaking NFT Platform

Singapore, Singapore, 7th December, 2021, Chainwire3Space Art is thrilled to announce the official launch of its groundbreaking NFT platform that facilitates widespread use of...

Starly Closes Pre-IDO Funding Round of $6.1 Million and Announces Future Plans

Zug, Switzerland, 7th December, 2021, — Starly, the launchpad and marketplace for gamified NFTs, has just closed its pre-IDO funding round with $6.125 million...

Polygon And Wanchain Announce Strategic Partnership, Plan To Launch World’s First Direct Decentralized Layer 2-to-Layer 2 Cross-Chain Bridge

London, United Kingdom, 7th December, 2021, -Polygon and Wanchain are proud to announce a strategic partnership that will drive further adoption of Layer 2... Becomes The Sixth Largest Crypto Futures Platform

Singapore, Singapore, 7th December, 2021, Chainwire Leading global digital asset exchange,, has quickly become the sixth largest crypto futures platform in the world, having...

UK FCA May Exclude Crypto Investors From Financial Services Compensation Scheme (FSCS)

Cryptocurrency investors may be excluded from the Financial Services Compensation Scheme (FSCS) in the UK. A proposal from the Financial conduct authority (FCA) is...

India Looking To Classify Crypto As Financial Assets, All Crypto Holders Must Declare Their Holdings Or Face Fines

India is considering appointing its capital markets regulator to oversee cryptocurrencies, according to people with knowledge of the matter told Bloomberg, as authorities look...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.