Weekly Global News Wrap: Morgan Stanley offers Bitcoin ETFs; Berkshire Hathaway sells $3.8b BofA stocks

And Wells Fargo is under investigation over issues in its AML programs.

From Bloomberg:
Morgan Stanley has given thousands of its financial advisers the green light to offer Bitcoin exchange-traded funds (ETFs) to select wealthy clients.

In a memo, the bank told its 15,000-strong adviser base they can offer some clients to buy either BlackRock Inc’s iShares Bitcoin Trust (ticker IBIT) or the Fidelity Wise Origin Bitcoin Fund (FBTC), a source said.

From Reuters [1 | 2]:
Berkshire Hathaway has slashed its stock exposure to Apple and Bank of America (BofA), building up cash reserves to $277b.

The Warren Buffet-run holding company sold half its stake in Apple despite the latter reporting record profits.

It has also shed more than $3.8b of stocks from BofA since mid-July, selling 19.2 million BofA shares for $779m between 30 July and 1 August. It has now sold over 90.4 million BofA shares during a 12-day period.

From Reuters:
Wells Fargo is under investigation over issues in its anti-money laundering and sanctions programs, the bank said in a filing on 1 August.

The company did not specify which government was inquiring about its practices, nor did it give details about the issues that were being probed.