Morgan Stanley recommends a crypto allocation ranging from 0% to 4% depending on investor profile, with a maximum of 4% for opportunistic growth portfolios, 3% for market growth strategies and 2% for balanced growth. The bank recommends quarterly rebalancing, or at minimum annually, to maintain the desired exposure after price increases. BlackRock considers a 1% to 2% bitcoin exposure a reasonable range, while Fidelity models allocations of 2% to 5% in a favorable adoption scenario. Vanguard has opened its platform to third-party crypto ETFs and funds but does not plan to launch its own crypto products. These positions illustrate the gradual shift in Wall Street’s view on cryptocurrencies despite their volatility and growing correlation with risky assets.
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