Media: Morgan Stanley will be the first major US bank to open access to bitcoin funds for clients

Morgan Stanley becomes the first of the largest US banks to offer its asset managers access to bitcoin-based investment funds. It is reported by CNBC with reference to its own sources.

According to the TV channel, we are talking about two funds from Galaxy Digital by Mike Novogratz and a jointly launched investment instrument of NYDIG and FS Investments.

Accredited investors with a capital of at least $ 2 million can apply for shares. For investment companies, the threshold is at least $ 5 million in bank accounts and the age of the account is from 6 months. The bank limited investments in bitcoin funds at 2.5% of their equity capital.

The minimum investment in Galaxy Bitcoin Fund LP and FS NYDIG Select Fund is $ 25,000, and in Galaxy Institutional Bitcoin Fund LP – $ 5 million.

Sources of CNBC clarified that clients will most likely be able to acquire shares in the funds no earlier than next month after the bank’s financial consultants have completed their studies related to the new proposal.

Previously, the media reported that Counterpoint Global, a division of Morgan Stanley Investment Management, is considering investing in the first cryptocurrency .

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