One of the most important and largest investment banks all over the world, Morgan Stanley, is building a crypto-related product for its clients. The information has been released by Bloomberg yesterday, quoting people familiar with the matter.
Morgan Stanley to Offer Bitcoin Swap Trading
The famous investment bank is planning to offer trading in complex derivatives tied to Bitcoin (BTC). Morgan Stanley would be dealing in contracts that would provide investors exposure to the crypto market. All the information has been provided by a source that asked not to be identified.
With this specific product, investors could go long or short using price return swaps. The bank will be charging users a spread for each transaction performed.
Currently, Morgan Stanley is already prepared to offer Bitcoin swap trading. However, the institution must be sure that there is a clear interest from its clients before launching the product. Additionally, there are different steps that must be performed before the instrument is approved.
This shows that there is a clear interest from big Wall Street firms in offering Bitcoin- and crypto-related products.
Source/More: Bloomberg: Morgan Stanley is Building a Cryptocurrency Product | UseTheBitcoin