Morgan Stanley to support Bitcoin funds

A recent CNBC report indicated that Morgan Stanley, one of the largest banks in the United States, will soon offer access to bitcoin funds to its wealth management clients. According to the report, the bank would be granting its customers access to three funds that facilitate bitcoin ownership.

Two of these funds are from Galaxy Digital – the parent company of Grayscale Investment – and the third is from FS Investments and the bitcoin-focused company NYDIG.

This development is an especially notable indication of the increasing acceptability of the main cryptocurrency asset as a viable investment option. It was probably necessary due to a growing outcry over exposure to bitcoin by Morgan Stanley customers.

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