tldr; Morgan Stanley is the first big US bank to offer its wealth management clients access to bitcoin funds, CNBC has learned. The investment bank, which has $4 trillion in client assets, told its financial advisors in an internal memo that the bank is launching access to three funds that enable ownership of bitcoin. The bank considers it suitable for people with “an aggressive risk tolerance” who have at least $2 million in assets held by the firm.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I think that the adoption of Bitcoin by major financial institutions, VISA, Paypal, now a major bank, will have an impact on mainstream adoption. Personally I think it will make the price go up, but even if it doesn’t, it will increase stability in the cryptocurrency. Note, I’m not qualified to give financial advice.