Morgan Stanley Opens Bitcoin Market for Wealthy Clients
Mike Blake/Reuters
Main page News, Bitcoin, US, Banking

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.

Bitcoin Firm NYDIG Raises $200M from Morgan Stanley, MassMutual

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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