Morgan Stanley’s Global Investment Committee has officially recognized Bitcoin as a non-sovereign store of value, comparing it to gold. The bank now recommends including the asset in client portfolios to provide diversification.
The committee established specific allocation ranges in October 2025. Balanced growth portfolios are advised to hold 0–2% in Bitcoin, while portfolios with higher risk tolerance may allocate 2–4%.
The bank estimates that Bitcoin’s market capitalization accounts for roughly 2% of a $130 trillion addressable market, which includes global M2 money supply and gold.
Research projections suggest varying annualized returns based on adoption scenarios. A flat-adoption environment estimates 3% returns, a baseline scenario suggests 6–7%, and accelerated adoption could reach 10%.
In April 2026, Morgan Stanley launched its own spot Bitcoin ETP, known as MSBT. By September 14, 2026, the product had accumulated approximately $609 million in assets under management.
