Morgan Stanley said in a recent regulatory filing it might allow to its certain institutional funds to invest "indirectly" in bitcoin through cash settled futures or indirectly through investments in Grayscale Bitcoin Trust (BTC).
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Twelve funds, including Developing Opportunity and Counterpoint Global, could put up to 25% of their total assets via subsidiaries.
"To the extent a Fund invests in bitcoin futures or GBTC, it will do so through a wholly-owned subsidiary, which is organized as an exempted company under the laws of the Cayman Islands," says the document.
The filing comes after Morgan Stanley decided to publicly offer its wealthy clients (with at least $2 million in assets) access to bitcoin (EXANTE: Bitcoin) funds. The financial institution, that had $715 billion assets under management in 2020, told its financial advisors it was launching access to three funds focused on the cryptocurrency.
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.
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