According to CNBC, Morgan Stanley, one of the largest wealth management companies in the world, has notified its financial advisors that starting October 15, all clients will be able to invest in cryptocurrency funds.
Financial advisors will be able to offer cryptocurrency funds to clients with Individual Retirement Accounts (IRAs) and 401(k) plans, marking a significant shift from previous policies that were limited to high-net-worth investors with assets over $1.5 million and an aggressive risk appetite.
This move could free up millions of dollars currently tied up in other assets, paving the way for some of that capital to flow into cryptocurrencies. According to the latest quarterly update from the Investment Company Institute, as of June 30, U.S. retirement assets totaled approximately $45.8 trillion, with IRAs holding about $18 trillion and 401(k) plans about $9.3 trillion.
According to the company's 2025 annual shareholder letter, Morgan Stanley's wealth management division employs approximately 16,000 financial advisors within its advisory network, managing about $6.2 trillion in assets and serving over 19 million client relationships.
To ensure that clients do not become overly exposed to cryptocurrencies, Morgan Stanley will use an automated system, and currently, financial advisors can only offer Bitcoin funds managed by BlackRock and Fidelity. CNBC cited sources familiar with the policy stating that the company is looking at other cryptocurrency products in the market.
When asked to comment on the policy, Jeff Feng, co-founder of Sei Labs, told Cointelegraph: "Institutions are beginning to view digital assets not just as speculative investments but as investable asset classes that require structured access points."
As cryptocurrency-native platforms bring tokenized assets on-chain, asset management companies are opening new exposure channels, and "the distinction between traditional finance and on-chain finance continues to blur." Feng stated that the result is that digital assets "are becoming a standard component of diversified portfolios."
In October, a report from Morgan Stanley's Global Investment Committee suggested a cautious approach to cryptocurrencies, recommending a maximum allocation of 4% in high-risk "opportunity growth" portfolios, 2% in "balanced growth," and no allocation in income or preservation strategies.
Morgan Stanley's policy shift comes as several of the world's largest asset management companies deepen their involvement in the digital asset space.
In April, Fidelity launched a new set of retirement accounts that provide Americans with nearly zero-cost cryptocurrency investment channels. These products include traditional IRAs and two Roth IRA options, allowing users to buy and sell Bitcoin.
According to Bloomberg, in June, global banking and financial services giant JPMorgan announced that it would allow trading and wealth management clients to use cryptocurrency exchange-traded funds (ETFs) as collateral for loans. The bank also stated that it would incorporate clients' cryptocurrency holdings into its overall net asset assessments.
Asset management company BlackRock, after its spot Bitcoin ETF became the company's most profitable fund, is also considering expanding its cryptocurrency products, generating $245 million in fee revenue over the past year.
On September 11, Bloomberg reported that BlackRock is exploring ways to tokenize ETFs on blockchain networks, which could allow them to trade around the clock and serve as collateral in decentralized finance (DeFi) applications.
Related: Stablecoin company BVNK receives investment from Citigroup's venture capital arm, Citi Ventures, as Wall Street deepens its cryptocurrency footprint.
Original article: “Morgan Stanley Opens Cryptocurrency Funds to All Clients”
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