Morgan Stanley’s investments in spot bitcoin ETFs have surpassed $272 million, equivalent to 0.02% of the bank’s AUM of $1.2 trillion.
The investment bank has observed significant client interest in these products following their approval by the SEC.
Morgan Stanley made these exchange-traded products available in August this year.
Total inflows into BTC-ETFs since trading began in January have risen to $20.7 billion.
On October 17, the inflow amounted to $470.5 million, with $2.11 billion over the past five days.
The head of global research at Morgan Stanley highlighted bitcoin mining stocks as a promising investment direction.
Morgan Stanley’s Global Head of Research is Pitching #Bitcoin Mining Stocks to CIOs ? pic.twitter.com/cVcRWdPfKJ
— matthew sigel, recovering CFA (@matthew_sigel) October 14, 2024
The expert noted the preparation of regulations that will require data centers to increase capacity. This could stimulate demand for energy-intensive industries such as bitcoin mining.
JPMorgan has pointed to the potential return of Donald Trump to the U.S. presidency and the need for a hedge against economic instability as drivers for cryptocurrency growth by the end of the year.