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This is part of our macro briefing for PRO readers, where we cover the most important macro events affecting Web3. Let’s jump in:

Morgan Stanley now allows its army of 15,000 wealth advisors to pitch Bitcoin ETFs to some clients – a first for a big bank.

Why it matters: The train is leaving the station.US wealth advisors manage nearly $30T. Morgan Stanley is one of the pre-eminent wealth management firms globally with $1.5 trillion in assets.

Zooming out: It took Morgan Stanley more than 10 years to get to this point.

In March 2014, they held a microfinance bitcoin event at its New York headquarters, when CEO James Gorman said the virtual currency is "totally surreal".