Morgan Stanley becomes the first big U.S. bank to offer its wealthy clients access to bitcoin funds
 

The entire financial system is becoming a Bitcoin sidechain.

All stocks become Bitcoin ETFs

All payment providers become Bitcoin sidechains

All central banks become obsolete

All your models are destroyed


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Morgan Stanley becomes the first big U.S. bank to offer its wealthy clients access to bitcoin funds

The investment bank told its financial advisors Wednesday in an internal memo that it 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, a crypto firm founded by Mike Novogratz, while the third is a joint effort from asset manager FS Investments and bitcoin company NYDIG.

Morgan Stanley 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.

The investment bank, a giant in wealth management with $4 trillion in client assets, told its financial advisors Wednesday in an internal memo that it is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter.

https://www.cnbc.com/2021/03/17/bitc...oin-funds.html

Let's see how it will affect the bitcoin exchange rate ;)

“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop.” – F.A. Hayek (1984)