Morgan Stanley to Allow Agents to Sell Crypto Funds to Any Clients

Core Insights - Morgan Stanley will allow its financial agents to sell cryptocurrency funds to all clients starting October 15, marking a significant policy shift from previous restrictions [1][3] - The firm will enable crypto investments across all account types, expanding access beyond clients with at least $1.5 million in assets and an aggressive risk tolerance [2][3] - An automated monitoring process will be implemented to ensure clients do not become overly concentrated in cryptocurrency investments [3] Company Strategy - Currently, Morgan Stanley limits its advisors to promoting bitcoin funds from BlackRock and Fidelity, but is considering adding more funds and types of cryptocurrency [4] - The firm has been offering bitcoin funds to wealth management clients for about four years and is adapting to the evolving landscape of cryptocurrency investments [5] Partnerships and Future Plans - Morgan Stanley is partnering with digital asset infrastructure provider Zerohash to enable cryptocurrency trading for E-Trade clients, initially allowing trades in Bitcoin, Ether, and Solana [5] - Zerohash recently raised $104 million in a funding round, with participation from Morgan Stanley, indicating a strong interest in expanding access to the crypto asset class [6]