Morgan Stanley, the first bank to offer access to bitcoin
Wealth management clients will now be able to access the lender's bitcoin funds
The US financial multinational, Morgan Stanley, becomes the first US lender to offer its client portfolio the option of accessing bitcoin funds, as the CNBC announced on Wednesday.
The decision was made after clients asked the bank for exposure to cryptocurrencies, and although Morgan Stanley did not react immediately to the demand, according to what was discussed with financial investors, access to three funds will be launched that will allow accessibility to the ownership of bitcoin.
So far it is known that the only clients who will have access to the property will be those with $ 2 million in assets under the bank’s custody, as well as investment companies in the entity with at least $ 5 million. In both cases, the minimum seniority of six years will be mandatory.
The funds to be offered are from Galaxy Digital, a crypto firm founded by Michael Novogratz, a joint effort of asset manager FS Investments and bitcoin company Nydig.
According to the report released, clients could start investing in these funds the next month.
K.Villarroel
Source: larepublica
