In a first for a major American bank, Morgan Stanley, one of the most established names in the wealth management sector, is now letting its deep-pocketed clients access three Bitcoin funds, CNBC reports.
The Wall Street behemoth boasts close to $4 billion in assets under management, with its financial advisor headcount reaching 16,000.
Two of the three funds supported by Morgan Stanley are owned by Galaxy Digital Capital Management, the affiliate firm of Mike Novogratz’ Galaxy Digital. The third one is operated by Stone Ridge’s Bitcoin subsidiary, NYDIG.
