tl;dr
Morgan Stanley has filed with the U.S. Securities and Exchange Commission to provide Bitcoin ETF exposure for 12 of its funds. The filing states that the funds may indirectly invest in Bitcoin ETFs, with investments restricted by certain limits. The bank notes that the risk of investing in Bitcoin E...
Morgan Stanley files with SEC for Bitcoin ETF exposure for 12 funds
Investments into Bitcoin ETFs limited by "certain limits"
Risk of investing in spot Bitcoin ETFs comparable to investing directly in cryptocurrency
Potential for Morgan Stanley to allow brokers to solicit purchases for Bitcoin ETFs
Bernstein maintains bullish $150,000 Bitcoin price target despite recent ETF outflows
American multinational investment bank Morgan Stanley has filed with the U.S. Securities and Exchange Commission (SEC) to get Bitcoin ETF exposure for 12 of its funds.
The filing states that the Advantage, Asia Opportunity, Counterpoint Global, Developing Opportunity, Global Insight, Global Opportunity, Global Permanence, Growth, Inception, International Advantage, International Opportunity as well and Permanence Portfolios may gain investment exposure to the largest cryptocurrency indirectly via investing in Bitcoin ETFs.
The amount of investments into Bitcoin ETF will be restricted by "certain limits."
Morgan Stanley adds that the risk of investing in spot Bitcoin ETFs is comparable to the risk of investing directly in the underlying cryptocurrency. "Investments in a Bitcoin ETF expose a Fund to all of the risks related to  bitcoin discussed above and also expose a Fund to risks specific to such Bitcoin ETF," the filing says.
As reported by U.Today, AdvisorHub reported last week that Morgan Stanley could potentially allow thousands of its brokers to solicit purchases for red-hot Bitcoin ETFs. So far, such purchases are only allowed on an unsolicited basis. Such a move could substantially increase demand for Bitcoin ETFs.
BERNSTEIN REMAINS BULLISH ON BITCOIN
Despite the substantial drop in Bitcoin ETF flows, prominent brokerage firm Bernstein remains bullish on the largest cryptocurrency, sticking by its highly optimistic $150,000 Bitcoin price target that the firm expects to materialize next year. According to Bernstein, the recent wave of Bitcoin ETF outflows is only a temporary pause, meaning that analysts should not read too much into it.
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