Bitcoin News Morgan Stanley is the first US bank to offer...

Morgan Stanley is the first US bank to offer Bitcoin to its clients

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Morgan Stanley, a recognized financial institution in the United States, becomes the first traditional bank to offer the purchase of bitcoin (BTC) to its customers.

According to information from CNBC, the bank is preparing the launch of three investment funds that “would allow the acquisition of bitcoin,” an unidentified source told that media outlet. The announcement was transmitted by the bank to its financial advisers this Wednesday, March 17, the publication specifies.

Although in the past other entities have issued bonds, indices and other indirect investment vehicles in bitcoin, this time everything seems to indicate that savers will be direct owners of their bitcoins (BTC). However, the custody method that will be used is not clarified.

Two of the funds will be managed by Galaxy Digital, a renowned investment firm cryptocurrency, while the third fund will be managed jointly by the FS Investments and New York Digital Group (NYDG) companies. As we reported in The Advertiser Mirror last week, the NYDG company, created by Morgan Stanley, received resources from several investment firms, including the renowned George Soros, Soros Fund Management.

Only the fittest will have access to Bitcoin

Morgan Stanley will allow the purchase of BTC only to those investors who in its criteria have an “aggressive risk tolerance” profile, as it considers BTC to be a very volatile asset.

Those who want to invest in BTC through Morgan Stanley, must own at least the equivalent of USD 2 million in the investment vehicles that this entity offers. They must also have no less than $ 5 million in cash deposited in the bankIn both cases, clients are required to have been clients of the entity for more than 6 months.

However, they will not be able to invest more than 2.5% of all their positions and investments, the source said. Starting next month, it will be possible to invest in BTC through Morgan Stanley, after the firm professionally trains its financial advisors, according to the characteristics of the main cryptocurrency.

According to the unidentified source close to the bank, and referred to by CNBC, a large number of clients have been insisting that Morgan Stanley enable investment in BTC. With this decision, it becomes the first traditional American bank to offer this possibility.

AdMirror Staff
The Advertiser Mirror Staff (AdMirror Staff) is a group of marketers and advertisers who love to write the latest news about politics, business, money and stock markets in the world.

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