Morgan Stanley's Head of Digital Asset Strategy recently revealed that U.S. banks may directly hold Bitcoin on their balance sheets in the future, but this must strictly follow Federal Reserve guidelines, Basel accords, and other regulatory requirements, with no clear timeline yet. Meanwhile, the bank's newly launched Bitcoin ETP product "MSBT" attracted over $100 million in inflows just six days before its launch, all from client-initiated investments, and has not yet been fully opened to financial advisors. To address the slow adoption among advisors, the bank has initiated internal training programs to fill the knowledge gap. Additionally, Morgan Stanley is actively applying for an OCC digital trust license, aiming to enable direct custody of crypto assets and spot trading services.


As a bellwether for Wall Street, these initiatives indicate that top-tier banks are not only providing entry channels for clients but are also deeply engaging in the infrastructure of crypto by applying for licenses and navigating policy. Once regulatory barriers are lowered, having Bitcoin on bank balance sheets could become a key driver of long-term market growth.
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