Morgan Stanley is planning to extend bitcoin funds to affluent clients
Did you know according to a CNBC report, Morgan Stanley is about to offer a display to its high net worth clients? The bank has told its financial advisors that it will provide access to two Galaxy Digital funds that are run by Mike Novogratz.
Nevertheless, they will be made available to clients who have $2 million assets, and hence it will be restricted to 2.5% of the person’s net worth.
And it was a big surprise for Morgan Stanley as they have already invested in NYDIG’s recent $200 million fundraisings.
Morgan Stanley already owns 11% of stocks in Microstrategy. Microstrategy is a software company that has several bitcoin holdings. Given the size of holdings, the firm might be viewed as a replacement for the Bitcoin ETF.
Family Offices and Hedge Funds have been taking interest in the sector for some time now. The latest move is that different Swiss private banks have offered direct exposure to cryptocurrencies to their clients.