Morgan Stanley has become the very first US bank to publicly offer its wealthy clients (at least $2 million in assets) access to bitcoin (EXANTE: Bitcoin) funds, CNBC reports, citing the bank's internal memo. The financial institution, that had $715 billion assets under management in 2020, told its financial advisors it is launching access to three funds focused on the cryptocurrency.
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Two of the funds on offer are reportedly from Mike Novogratz's Galaxy Digital and the third one is a joint effort from asset manager FS Investments and a blockchain-related company NYDIG. Morgan Stanley's clients can join the cryptocurrency market as early as next month, CNBC noted.
As iHodl earlier reported, Morgan Stanley boosted its stake in MicroStrategy with acquisition of 650,000 shares since Q3 2020. According to a filing with the US Securities and Exchange Commission (SEC), Morgan Stanley now owns 10.9% of MicroStrategy's stocks (792,627).
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