Investment bank giant Morgan Stanley will enable its institutional clients to receive more exposure to BTC via three funds as we can see more in our latest Bitcoin news.

A few months ago after America’s oldest bank announced BTC custody services, the Wall Street Investment Bank giant Morgan Stanley decided to start offering its clients access to BTC funds but the bank has outlined that BTC has a risky nature and said that only people with an aggressive risk tolerance will take advantage of the service.

By citing an internal memo that was sent by Morgan Stanley to its financial advisors, CNBC outlined the milestone in the adoption cycle and the institution also outlined a huge increase in demand from the clients to the primary cryptocurrency. The coverage reads that the banking entity will enable access to three funds starting from April 2020 and the bank also advised that only with an aggressive risk tolerance of $2 million in assets one should consider allocating funds in the cryptocurrency.

The bank instituted a few requirements, as well as the investment firms, have to have at least $5 million in their bank accounts that are six months old to qualify for the new initiative. Even those that will qualify, will be able to allocate 2.5% of their total net worth in BTC products and according to the report, two of the funds are offered by Mike Novogratz’s Galaxy Digital while the third is combined from the NYDIG and the FS investment asset manager.

The latter has a minimum investment requirement of $24K while the Galaxy institutional BTC fund has a $5 million minimum. Morgan Stanley was among the few Wall Street institutions that displayed an open mind towards BTC as in 2020 the bank executive said that the cryptocurrency will become a global reserve currency while other reports suggest that the organization will purchase BTC through its investment arm. Also just recently, America’s oldest bank BNY Mellon showed a positive BTC stance by launching crypto custody services.

As we reported in our news, According to the report, Counterpoint Global is considering investing in bitcoin and so if the company decides to proceed with the investment, it will need to be approved by regulators. Morgan Stanley has already involved because the bank holding 10.9% shares of the business intelligence company Microstrategy. The latter paved the way for all other institutional investment companies to invest in BTC as the company started in 2020, totaling $1.125 billion worth of BTC at the end of 2020.

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Source: https://www.dcforecasts.com/bitcoin-news/investment-bank-giant-morgan-stanley-to-enable-clients-access-to-btc/