January 30, 2025 at the Morgan Stanley offices in the Canary Wharf financial district in London, England.
Mike Kemp | In Photography | Getty Images
Morgan Stanley told financial advisors on Friday that the firm will expand access to crypto investing to all clients, allowing investments in all types of accounts, including retirement accounts, according to CNBC.
Starting October 15th, advisors will be able to market crypto funds to any client. Previously, this option was limited to those with an aggressive risk tolerance, at least $1.5 million in assets, and who wanted crypto in a taxable brokerage account.
The move marks the latest expansion of access to cryptocurrencies at the world’s largest asset management firm, following a reversal in the US government’s stance on the emerging asset class with the election of President Donald Trump. Morgan Stanley announced last month that its subsidiary E-Trade would soon be able to trade Bitcoin, Ether, and Solana.
Over the past two decades, Morgan Stanley has become an industry giant, amassing $8.2 trillion in client assets across its wealth and investment management businesses. In recent years, the bank has repeatedly shown it is keen to defend its position amid the rise of platforms such as Coinbase and Robinhood.
As Morgan Stanley removes eligibility requirements for crypto funds, it will rely on automated monitoring processes to ensure clients are not overly concentrated in volatile asset classes, said a person familiar with the matter, speaking on condition of anonymity to discuss internal policies.
The bank’s Global Investment Committee recently unveiled a model with maximum initial allocations to cryptocurrencies of up to 4%, depending on goals ranging from “wealth preservation” to “opportunistic growth.”
Lisa Charette, the firm’s chief investment officer for wealth management, said in an Oct. 1 report that the committee “believes that cryptocurrencies are a speculative and increasingly popular asset class that many, but not all, investors are interested in exploring.”
For now, advisors are still limited to promoting BlackRock and Fidelity’s Bitcoin funds, but Morgan Stanley is keeping an eye on the industry for potential additions to these funds, including other types of cryptocurrencies, the people said.
Customers can seek participation in listed crypto exchange products, they added.
