BREAKING: Morgan Stanley Bringing Bitcoin To Wealthy Clients
marketrefresh.substack.com
Happy Wednesday, Blockfolians The Lede HUGE news from Morgan Stanley today. As reported first by CNBC, the wealth management giant will be offering clients direct exposure to bitcoin via three funds run by Galaxy Digital, FS Investments, and NYDIG. The funds are only available for extremely wealthy clients. You need $2m with the bank as an individual or $5m as a fund to qualify, and you need to have had it there for at least 6 months. What’s more, even if you qualify Morgan Stanley will only let you spend up to 2.5% of your net worth. Heckuva a lot of restrictions for a permissionless asset but here we are.
BREAKING: Morgan Stanley Bringing Bitcoin To Wealthy Clients
BREAKING: Morgan Stanley Bringing Bitcoin To…
BREAKING: Morgan Stanley Bringing Bitcoin To Wealthy Clients
Happy Wednesday, Blockfolians The Lede HUGE news from Morgan Stanley today. As reported first by CNBC, the wealth management giant will be offering clients direct exposure to bitcoin via three funds run by Galaxy Digital, FS Investments, and NYDIG. The funds are only available for extremely wealthy clients. You need $2m with the bank as an individual or $5m as a fund to qualify, and you need to have had it there for at least 6 months. What’s more, even if you qualify Morgan Stanley will only let you spend up to 2.5% of your net worth. Heckuva a lot of restrictions for a permissionless asset but here we are.