This is confirmation the 4th largest U.S. Investment Bank is gonna start shilling #bitcoin to its WEALTHIEST clients. Getting in bed with the very bankers that crypto is trying to disrupt.
BUT Bitcoin is for everybody!
The optics that somehow $BTC is only suitable for wealthy investors stinks everyone needs to own some. Hopefully retail of every level already knows they can enter and that institutional adoption gives credence to adoption. everyday people don’t need permission they can buy at levels $1 and above including within their IRA.
Galaxy is thrilled to partner with Morgan Stanley, the first US bank to offer Wealth Management clients access to bitcoin funds.
WOW! Morgan Stanley is bringing two bitcoin funds to their platform. Galaxy Digital and NYDIG will both be onboarding millions of people to bitcoin via the largest US brokerage. Morgan Stanley is in the game. Bitcoin is inevitable.
That Morgan Stanley would offer access to an NYDIG fund is perhaps unsurprising, given that the Wall Street bank was among those to participate in NYDIG’s $200 million growth capital round earlier this month.
NYDIG’s CEO, Robby Gutmann, said during a podcast appearance earlier this week that “[i]n the next week, you’ll see game-changing milestones for bitcoin adoption in the financial landscape.”
“Galaxy is thrilled to partner with Morgan Stanley, the first US bank to offer wealthy clients access to bitcoin funds,” Galaxy founder Mike Novogratz said in a tweet after the news broke.
Morgan Stanley becomes the first big U.S. bank to offer its wealthy clients access to bitcoin funds
Galaxy is thrilled to partner with Morgan Stanley, the first US bank to offer Wealth Management clients access to bitcoin funds.
$2.3 trillion wealth manager Morgan Stanley has alerted its legion of ~16,000 wealth advisors that it will offer accredited clients access to Bitcoin-related funds. Source at the bank says it could offer access to at least one fund by NYDIG or Galaxy Digital.
The investment bank told its financial advisors Wednesday in an internal memo that the bank is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter.
Two of the funds on offer are from Galaxy Digital, the crypto firm founded by Mike Novogratz, while the third is a joint effort from asset manager FS Investments and bitcoin company NYDIG.
The bank is only allowing its wealthier clients access to the volatile asset: The bank considers it suitable for people with “an aggressive risk tolerance” who have at least $2 million in assets held by the firm. Investment firms need at least $5 million at the bank to qualify for the new stakes. Investment firms need at least $5 million at the bank to qualify for the new stakes. In either case, the accounts have to be at least six months old.
https://www.cnbc.com/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html
