3 Bitcoin Funds Now Allowed For Client Investment By Morgan Stanley

Morgan Stanley joins the growing list of heavyweight traditional finance firms getting in on the cryptocurrency space. The timing couldn’t be better, as the world’s first cryptocurrency is only rising in price, which is catching the eye of numerous wealthy investors.

Three New BTC FUnds Available For Morgan Stanley Clients

As reported by CNBC, Morgan Stanley had revealed to its financial advisors that it will launch access to three new funds. These funds will each enable ownership of Bitcoin through them.

Through an internal memo, it’s revealed that the Morgan Stanley clients on the wealthier end of the spectrum, and who themselves are partial to a level of “aggressive risk” needed for it, can take part. These investors must have a minimum of $2 million in assets already, and they can invest up to 2.5% of their net wealth within various Bitcoin funds.

An Inevitable Action From Morgan Stanley

Morgan Stanley, as revealed by “Unnamed sources” from CNBC, will offer a total of three Bitcoin funds to their clients. Two of these offered funds will be from the Galaxy Digital crypto firm, founded by Mike Novogratz. The third Bitcoin fund stands as a joint venture from NYDIG, a Bitcoin company, and FS Investments, an asset manager.

These mysterious insiders also highlighted the general inevitability of this move from the investment bank. This is due to the simple fact that investors have been increasing their demand for crypto products, and were already geared toward investing in the space. Simply put: If Morgan Stanley didn’t do it, these investors would find someplace that will.

Even Morgan Stanley itself is on the hype train, increasing its exposure to cryptocurrencies many times over. Morgan Stanley’s $150 billion investing arm, Counterpoint Global, has recently pumped $500 million within MicroStrategy, the business intelligence company that quite famously converted its entire cash balance into Bitcoin.

Wall Street Growing In BTC Appetite

Morgan Stanley’s move to open access to Bitcoin funds has added more momentum to the overall increase in interest from Wall Street banks in general. All of these institutions have steadily been seeing Bitcoin, and cryptocurrencies indirectly, as a positive thing throughout these past few months.

Just last month, BNY Mellon revealed that it plans to provide an “integrated service” for various cryptocurrencies to its clients. This would cover the classic cryptocurrencies, but have the potential to extend all the way to stablecoins, as well.

Even Goldman Sachs is getting in on it: stating that it will reopen a trading desk to dedicate for cryptocurrency market making. All of this, in turn, will stand as a key driving force behind the mainstream integration of cryptocurrencies.

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