Morgan Stanley Allows Bitcoin Fund for Clients... First Case Among Major US Banks

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Morgan Stanley, a major U.S. investment bank, has become the first among major banks to allow its clients to invest in Bitcoin-related funds.

On the 17th (local time), CNBC cited sources reporting that Morgan Stanley decided to start allowing clients to invest in three types of Bitcoin-related funds.

Morgan Stanley permits Bitcoin investments to clients with assets exceeding $2 million who have an aggressive investment profile. Institutional investors must hold a balance of over $5 million.

Investment amounts are also limited. Only about 2.5% of net assets can be invested in Bitcoin funds.

The bank plans to enable clients to invest in Bitcoin funds by next month after completing employee training.

Earlier, Bloomberg reported that Morgan Stanley was considering Bitcoin investments through its subsidiary, Counterpoint Global.

On the day, the price of Bitcoin was $55,395.02, down 0.71% compared to 24 hours earlier.

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