By The Istanbul Post
March 19, 2021 1:34 pmNEW YORK, NY
Morgan Stanley has become the first major American bank to offer clients access to Bitcoin funds, according to a report on Wednesday March 17, 2021
The American multinational investment bank and financial services company said in an internal memo that it has begun providing access to three funds that enable ownership of the popular cryptocurrency, according to the CNBC network.
Access, however, will only be available for the wealthy clients who have at least $2 million in assets held by the company, while investment firms need at least $5 million for qualification.
Bitcoin with more than $1 trillion market capitalization saw its price touch an all-time high of $60,000 in recent days — a dramatic jump from $5,000 the same period last year.
Although central banks have been critical of the decentralized and unregulated crypto assets, institutional investors have started to buy into the crypto market in recent months.
LAST UPDATE: April 17th, 2021 02:40 pm
We use cookies on our website to give you a better experience, improve performance, and for analytics. For more information, please see our Cookie Policy By clicking “Accept” you agree to our use of cookies.
Read More