Is Morgan Stanley Wrong to Let Advisors Sell Bitcoin ETFs?

Aug 16, 2024

Reviewed by: etf.com Staff

Edited by: Kent Thune

In this special episode of the Advisor Upside podcast, we unpack the controversy surrounding Morgan Stanley’s decision to let its 15,000 wealth advisors start soliciting clients to purchase spot bitcoin ETFs.

As Morgan Stanley becomes the first major brokerage firm to let advisors sell two of the largest spot bitcoin ETFs to clients, vocal crypto critic John Reed Stark has taken to social media to warn of a wave of regulatory scrutiny heading toward Morgan Stanley.

Stark, a former chief of the SEC’s office of Internet enforcement, said by letting advisors actively sell bitcoin ETFs to investors, Morgan Stanley will experience “the biggest SEC and Finra sweep in history.”

The backlash to Stark’s comments has been equally aggressive, but Stark is not backing down from his claims of doom and gloom for advisors adding crypto to investor portfolios.

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