"Starting Oct. 15, financial advisors will be able to offer bitcoin and crypto funds to any client - including those with retirement accounts - according to reporting by CNBC. Until now, only investors with more than $1.5 million in assets and an aggressive risk profile could participate. In other words, Morgan Stanley will soon let all its wealth management clients, including those with retirement accounts, invest in crypto. No asset-cap required."
"Its investment committee advises clients to have a maximum allocation of up to 4% to bitcoin and other crypto, depending on individual goals. The bank's recent report describes bitcoin as a "digital gold" and a legitimate real asset, noting its growing maturity despite ongoing volatility. Morgan Stanley said that clients should regularly rebalance their multi-asset portfolios - ideally every quarter, or at least once a year."
Morgan Stanley is removing previous asset and risk-profile restrictions so financial advisors can offer bitcoin and crypto funds to any wealth management client, including retirement accounts, starting Oct. 15. The prior policy limited access to investors with over $1.5 million and an aggressive risk profile. The firm plans to enable crypto trading on its E-Trade platform and will use automated systems to prevent client overexposure. The investment committee recommends a maximum allocation of up to 4% to bitcoin and other crypto and advises rebalancing multi-asset portfolios quarterly or at least annually. The firm recommends using exchange-traded products to manage volatility.
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