Morgan Stanley drops net-worth bar for crypto fund access
Morgan Stanley removed restrictions that limited which wealth management clients could invest in crypto-related funds. The policy change on October 10, 2025, expands access across the bank's advisory network.
The bank's approximately 15,000 financial advisers can now offer certain Bitcoin and crypto investment products to a wider range of clients. Previously, access required at least $2 million in net worth. The new guidelines open eligibility to clients who meet suitability and risk tolerance criteria defined by the bank's updated internal framework.
According to internal communications cited by CNBC, the adjustment applies to funds managed by Galaxy Digital, FS Investments, and NYDIG. These funds give clients indirect exposure to Bitcoin through professionally managed vehicles.
Financial advisers must review client portfolios and ensure diversification before approving any allocations to crypto funds. The products remain restricted to U.S.-domiciled investors and must be held in managed accounts under Morgan Stanley's oversight.
According to internal communications cited by CNBC, the adjustment applies to funds managed by Galaxy Digital, FS Investments, and NYDIG. These funds give clients indirect exposure to Bitcoin through professionally managed vehicles.
Financial advisers must review client portfolios and ensure diversification before approving any allocations to crypto funds. The products remain restricted to U.S.-domiciled investors and must be held in managed accounts under Morgan Stanley's oversight.
Morgan Stanley first offered Bitcoin exposure to wealth clients in 2021 with the $2 million net worth requirement. The bank is now removing that threshold while maintaining other eligibility criteria.
BlackRock, Fidelity, and JPMorgan have launched or expanded crypto investment offerings over the past year. Spot Bitcoin exchange-traded funds launched earlier in 2024, providing additional regulated investment vehicles for institutional and retail investors.
The bank has not disclosed how many clients previously qualified under the $2 million net worth requirement or how many additional clients will gain access under the new policy.
BlackRock, Fidelity, and JPMorgan have launched or expanded crypto investment offerings over the past year. Spot Bitcoin exchange-traded funds launched earlier in 2024, providing additional regulated investment vehicles for institutional and retail investors.
The bank has not disclosed how many clients previously qualified under the $2 million net worth requirement or how many additional clients will gain access under the new policy.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
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