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A New Filing for Morgan Stanley To Give Its Clients Exposure to Bitcoin

A New Filing for Morgan Stanley To Give Its Clients Exposure to Bitcoin Bitcoin News
  • NYDIG and FS Investments filed paperwork with the SEC for a BTC investment fund.
  • The new filing shows that this is the fourth fund linked to Morgan Stanley.

NYDIG and FS Investments announced they have filed paperwork with the SEC for a Bitcoin investment fund. Also, the filing will allow Morgan Stanley to give its clients exposure to bitcoin.

NYDIG is a leading tech and financial services firm devoted to Bitcoin. And FS Investments, a top alternative investment manager.

According to the filing report, Morgan Stanley will receive specific placement and servicing fees for clients it refers to the issuer.

Let’s note that in March, Morgan Stanley became the first major US bank to give its clients exposure to bitcoin. This includes the FS NYDIG Select Fund, the Galaxy Bitcoin Fund LP, and the Galaxy Institutional Bitcoin Fund LP. More so, it did it through a trio of funds, one of which NYDIG and FS Investments jointly created.

The new filing from the Securities and Exchange Commission (SEC) shows that this is the fourth fund linked to Morgan Stanley. The fund allows firms to get exposure to Bitcoin’s price without taking custody of the asset.

Further, the funds do that by tracking the price of BTC. Also, by adding on a management fee. Therefore, some funds can trade at a premium or discount compared to their underlying asset.

Also, in March, Morgan Stanley was allegedly planning to buy a stake in the South Korean crypto exchange. Moreover, the exchange is nothing but Bithumb. According to the local media website Naver News, Morgan Stanley may even be trying to acquire the exchange.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.