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Morgan Stanley Is First Big Bank Offering Bitcoin to Wealthy Clients

Three funds led by Galaxy Digital, FS Investments and NYDIG will give bank customers access to the leading digital asset.

March 17, 2021

Three funds led by Galaxy Digital, FS Investments and NYDIG will give bank customers access to the leading digital asset.

This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, NEM.

Today on the Brief:

  • What markets want from the Federal Reserve’s FOMC meeting
  • eToro’s $10B SPAC
  • The latest on Coinbase’s IPO

Our main discussion: Morgan Stanley set to become the first big bank to offer wealthy clients access to bitcoin.

In this episode, NLW breaks down this breaking news, including:

  • Restrictions on the fund in terms of who can buy and how much they can spend
  • Background of the firms partnering with Morgan Stanley
  • Why the direct bitcoin exposure is a sea change for institutional investors offering bitcoin products

Image credit: Daniel Acker/Bloomberg/Getty Images