Morgan Stanley has informed its financial advisors that it will soon allow them to offer spot bitcoin exchange-traded funds (ETFs) to select clients, according to a CNBC report.

This move would be the first of its kind among major Wall Street banks. The report said that beginning August 7, Morgan Stanley will permit its financial advisors to solicit eligible clients to purchase shares of two spot bitcoin ETFs — BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund — according to sources familiar with internal policy decisions at the investment bank.

Morgan Stanley responding to client demand

The report added that Morgan Stanley made this decision in response to client demand, according to sources who requested anonymity.

However, the sources also said the bank will …