Morgan Stanley wealth management clients soon have one more option to gain exposure to bitcoin. This will be the fourth Bitcoin fund linked to Morgan Stanley.
New York Digital Investment Group (NYDIG) and FS investment have filed paperwork with US SEC for pool investment fund aimed at bank clients. According to the SEC filing, It will “receive certain placement and servicing fees with respect to clients it refers to the issuer.”
Funds allow companies or people to get exposure to BTC prices without taking custody of the asset. The fund tracks the price of Bitcoin and adds management fees. However, some funds can trade on premium or discount compared to their underlying asset.
Also Read: Goldman Sachs Expand in Crypto Trading With a Plan for Ether Options
Morgan Stanley first offers bitcoin funds in March. It was the first big US bank to do so. The first fund’s Morgan Stanley offering was FS NYDIG Select Fund, The Galaxy Bitcoin Fund LP, and the Galaxy Institutional Bitcoin Fund LP. The minimum investment for the first two is $25,000, while for the other is $5 million.
