Multinational investment Bank Morgan Stanley plans to provide its customers access to complex derivatives tied to bitcoin, writes Bloomberg, citing familiar with the situation source.
Morgan Stanley may issue contracts that allow investors to gain indirect access to bitcoin. Investors can open long and short positions on the so-called swaps total return (eng. — price return swap).
The Bank already has the technical capability to launch bitcoin swaps and submit them as soon as you are convinced there is sufficient demand from institutional clients and complete internal procedures associated with the inspection tool, the source said.
This week Morgan Stanley issued a cautious statement regarding short-term and medium-term prospects of the cryptocurrency market.
“We do not call for simultaneous and major reassessment of risky assets, but a bear market, which flows through different assets and sectors, hardly having relationships (bitcoin, debentures and securities of emerging markets, BTP, etc.), so you can hit him before, and most of all”, — quotes The statement Street Bank strategist Mike Wilson.
Morgan Stanley has no plans to trade bitcoin directly, and the swaps will be linked to future contracts on bitcoin, said the source. This year the Bank’s CEO James Gorman said he was not going to give their customers the option of direct purchase and sale of bitcoin, but will focus on developing units that will support the derivatives linked to various digital assets.
About six months ago Morgan Stanley said that, like Goldman Sachs, will be engaged in the clearing of futures on bitcoin. Goldman Sachs, in turn, has recently denied claims that he decided to open the unit for trade cryptocurrencies.
Also recently it became known that a private mechanism for investing in cryptocurrencies, which will be called receipts on the digital asset, develops Citigroup.
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