Morgan Stanley’s wealth management clients may soon have one more option to gain exposure to Bitcoin. NYDIG and FS Investments have filed with the U.S. Securities and Exchange Commission (SEC) for a pooled investment fund aimed at the bank’s clients.
In March, Morgan Stanley became the first big American bank to offer its clients exposure to the cryptocurrency space through a trio of funds. These funds allow investors to gain exposure to bitcoin without buying it directly or managing a wallet’s keys.
According to the filing, Morgan Stanley will “receive certain placement and servicing fees with respect to clients it refers to the issuer, as disclosed to the applicable clients.”
The first funds Morgan Stanley started offering were the FS NYDIG Select Fund, the Galaxy Bitcoin Fund LP, and the Galaxy Institutional Bitcoin Fund LP. The minimum investment for the first two is $25,000, while for the Galaxy Institutional Bitcoin Fund it’s $5 million.
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Source: https://www.cryptocompare.com/email-updates/daily/2021/jun/16/
