Morgan Stanley’s Bitcoin Fund Gains Interest from Over 300 Wealthy Clients
Each of them invested less than $100k in the new bitcoin investment vehicle.
Morgan Stanley’s Bitcoin-only private fund has managed to raise just under $30 million in a two-week time.
According to a regulatory document, one of the two new bitcoin investment vehicles of the banking giant raised funds from 322 investors, which means each of them didn’t even invest $100,000.
The fund is managed by FS investments and the crypto asset custodied by NYDIG. It was only last month that it became public knowledge that Morgan Stanley is now offering its wealthy clients exposure to the largest digital asset.
But this exposure is not only limited to clients with at least $2 million in net worth but is also only allowed to be 2.5% of their net worth. Morgan Stanley clients are also paying an upfront placement fee of 3% on a bitcoin investment of under $250,000.