Morgan Stanley, a major investment bank, recently launched two new bitcoin funds. In 14 days, $ 29.4 million was invested in one of them, and investments came from 322 clients.
In terms of the number of clients, the fund immediately became one of the most popular in the industry, although the volume of investments is not very impressive. For example, the much older Pantera Capital and Galaxy offerings have a significantly lower number of clients.
Morgan Stanley has set rather strict limits: clients must own a fortune of at least $ 2 million in order to invest in bitcoin through a bank fund, in addition, they cannot invest more than 2.5% of their fortune.
The bank also set a preliminary commission of 3% when investing in the fund of less than $ 250,000. Apparently, clients are quite satisfied with this – the average investment was $ 91,000.
This fund is managed by FS Investments, and the cryptocurrency itself is stored in the NYDIG service.
Earlier, Morgan Stanley CFO Jonathan Pruzan emphasized that the bank is ready to offer its clients more cryptocurrency services if they are interested in such products.
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