Morgan Stanley will expand cryptocurrency investment rights to all clients, including retirement accounts, starting from October 15. This is seen as a major step in bringing cryptocurrency into the traditional financial stream.
Under the new policy, all customers can access cryptocurrency funds, and financial advisors are allowed to recommend products without being limited by account type. Previously, this only applied to investors with assets over 1.5 million USD and who accepted high risks.
The bank will automatically monitor to prevent excessive investment risk. Initially, Morgan Stanley will introduce Bitcoin funds from BlackRock and Fidelity.
Bitwise CEO, Hunter Horsley, stated: “Morgan Stanley's opening up to cryptocurrencies shows that this sector is being more widely accepted in the global financial system.”
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