Morgan Stanley Adopts Bitcoin
Summary
Morgan Stanley Begins Offering Direct Bitcoin Ownership Access
The Minimum Investment into the Funds Through Morgan Stanley is $25,000
Bullish Signal for Bitcoin as Investment Banks are Now Only Beginning to Grant Exposure to Clients
Background
Bitcoiner,
On March 17th, 2021, Morgan Stanley, one of the largest banks in the United States, released an internal memo stating the bank will begin offering access to three funds that enable ownership of Bitcoin. Read more here.
Morgan Stanley will be limiting which clients can access the funds. As of now, the bank will only allow wealthier clients with at least $2 million in assets and investment firms with minimum $5 million at the bank to qualify for such an access.
The three funds that Morgan Stanley will offer to clients are:
The Galaxy Bitcoin Fund LP
Galaxy Institutional Bitcoin Fund LP
FS NYDIG Select Fund
The minimum investment into The Galaxy Bitcoin Fund LP and FS NYDIG Select Fund is $25,000. The minimum investment into the FS NYDIG Select Fund is $5 million.
Quick Story
I remember visiting New York City as a young kid. My parents were born and raised in the city, so we would always go there to explore and see relatives. I remember my parents showing me around Times Square around one of these city trips.
What stuck out to me the most during this trip to Manhattan was the incredibly tall buildings. I remember asking my dad about the different buildings as we were strolling the town. I distinctly remember asking my father about the Morgan Stanley Building. I still have this image in my head of the blue Morgan Stanley advertisements around the building. Only if I knew I would be writing about that moment 20 years later.
Why is this Important?
The internal memo is important because Morgan Stanley is one of the first large investment banks to begin offering Bitcoin exposure to clients.
In 2020, Morgan Stanley netted more than $48 billion in revenue. We are not talking about some local credit union bank here. We are talking about one of the largest financial institutions in the United States now offering Bitcoin to their clients. This is a massive announcement as big money is beginning to enter the Bitcoin ecosystem.
Morgan Stanley’s competitors include Bank of America, Goldman Sachs, and JP Morgan Chase. The competitors still do not offer direct bitcoin investments. This tells me Bitcoin is still wildly undervalued.
Treat yourself today and buy some Bitcoin! Time to go watch some March Madness.
Happy Saturday,
-Pod
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Eric Podwojski
Founder, Bitcoin EDU
Twitter: @epodrulz