Morgan Stanley Among the Pioneer US Banks to Offer Bitcoin Access to its Wealthy Management Clients

Offer Bitcoin Access to its Wealthy Management Clients

March 18, 2021

Reading Time: 2 minutes

Morgan Stanley is an American Multinational and financial services bank that is the first of its kind,  moving to offer Bitcoin access to its wealth management clients.

Speaking to CNBC, the financial institution laid out its plans to launch access to three funds by which crypto owners will be able to access and manage. Two of these funds are from a crypto firm- Galaxy Digital, while the third one is a joint partnership by the asset management FS           investments and the Bitcoin company-NYDIG.

A strong client demand pushed the bank’s decision to introduce cryptocurrency to its offering. As it stands, Morgan Stanley’s wealth management fund has over $4 trillion in client assets globally. Rolling out Bitcoin offering is the next most probable solution to better risk management.

Controlling Risk

With the $4 trillion assets at hand, the company only considers exposing to the crypto market only funds that have aggressive risk tolerance. This will accrue to approximately $2 million of the total assets and would just limit investments to as high as 2.5% of a client’s total net worth.

For the time being, the bank is ONLY allowing its wealthier clients access to these volatile markets.

Necessary Requirements to Partake

Morgan Stanley took this huge and significant step only after its clients demanded to have cryptocurrency options included in their investment schemes. As a company with almost a millennium handling traditional fiat, the crypto evolution is somehow a novice trend to the institution.

Therefore, we have to be easy with the rather strict restriction policies applicable to the bank in order to access its Bitcoin offerings.

The following are the checklists approvable before crypto investments

  • Investments firms need to have at least $5 million to acquire new stakes.
  • Any accounts deliberating Bitcoin offerings must not be younger than six months.
  • Bitcoin investments are only limited to 2.5% of the total net worth.
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