Morgan Stanley Confirms Wealth Management Clients Have Access to 2 Crypto Funds

Morgan Stanley has confirmed it is offering its wealth management clients exposure to bitcoin by way of a pair of external crypto funds.

In its first-quarter earnings call, the $4 trillion wealth management firm’s CFO, Jonathan Pruzan, said the bank is allowing qualified investors to gain access to two passive funds.

“As we see more interest, we’ll work with regulators to provide services we think are appropriate,” Pruzan said of its crypto services.

CNBC reported in March the Morgan Stanley funds are open to individual investors with at least $2 million or investment firms with at least $5 million. The bank put a cap on bitcoin investments, only allowing individual investors to put 2.5% of their net worth into the asset.

Two of the funds are from Galaxy Digital and the other is a joint effort from FS Investments and NYDIG, according to the CNBC report.

Morgan Stanley did not confirm on the earnings call which funds were involved.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Nate DiCamillo

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.