Categories: Finance

Morgan Stanley Confirms Institutional Clients Access To Two Cryptocurrency Funds

As part of its Q1 2021 P&L report, Morgan Stanley’s CFO said the bank will offer more cryptocurrency services if customers show more interest.

According to a statement from Morgan Stanley CFO Jonathan Pruzan, the bank is offering its large clients access to BTC through two external cryptocurrency funds. In its 2021 Q1 income statement, the company’s CFO said the bank is allowing qualified investors to access two passive funds.

“As interest grows, we will work with regulators to provide the services we deem appropriate,” Pruzan said about the bank’s plans.

In mid-March, it became known that Morgan Stanley will provide its clients with access to three bitcoin-based funds, but with certain restrictions. It was about two funds owned by Galaxy Digital: Bitcoin Fund LP and Institutional Bitcoin Fund LP. Funds accept investments from $ 25,000.

Also participating in the initiative was the FS NYDIG Select Fund, launched by NYDIG and FS Investments. The minimum investment in this fund is $ 5 million. In the report, Morgan Stanley did not say which funds qualified investors had access to.

Morgan Stanley also filed with the US Securities and Exchange Commission (SEC) at the end of March, according to which the bank’s twelve funds will be able to invest in BTC. Each of the funds indicated in the application will be able to place up to 25% of the capital in the first cryptocurrency.