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Morgan Stanley, an institution banking powerhouse, seems to have given Bitcoin its stamp of approval. Morgan Stanley would allow clients to invest in Bitcoin (BTC) under some circumstances, according to new information obtained from an “internal memo” reported by CNBC.
“The investment bank, a giant in wealth management with $4 trillion in client assets, told its financial advisors Wednesday in an internal memo that it is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter,” CNBC reported on Wednesday. According to the reports, the opportunity is scheduled to open in April.
According to cointelegraph.com, Bitcoin has sparked a lot of attention in mainstream finance in the last year or so, with companies like MicroStrategy, Tesla, and Square purchasing huge amounts of the Bitcoin
Participants of Morgan Stanley’s wealth management division will invest in Bitcoin by Galaxy Digital’s Bitcoin Fund LP and Institutional Bitcoin Fund LP, as well as FS Investments’ FS NYDIG Pick Fund, with each client’s total wealth set at 2.5 percent.
Clients must therefore be registered investors, have at least $2 million in the capital at Morgan Stanley, and have a certain account history. For investment firm clients, the minimum rises to $5 million. According to CNBC, each fund also has minimum contribution criteria.
“The investment bank, a giant in wealth management with $4 trillion in client assets, told its financial advisors Wednesday in an internal memo that it is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter,” CNBC reported on Wednesday. According to the reports, the opportunity is scheduled to open in April.
According to cointelegraph.com, Bitcoin has sparked a lot of attention in mainstream finance in the last year or so, with companies like MicroStrategy, Tesla, and Square purchasing huge amounts of the Bitcoin
Participants of Morgan Stanley’s wealth management division will invest in Bitcoin by Galaxy Digital’s Bitcoin Fund LP and Institutional Bitcoin Fund LP, as well as FS Investments’ FS NYDIG Pick Fund, with each client’s total wealth set at 2.5 percent.
Clients must therefore be registered investors, have at least $2 million in the capital at Morgan Stanley, and have a certain account history. For investment firm clients, the minimum rises to $5 million. According to CNBC, each fund also has minimum contribution criteria.
