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▲ Bitcoin transaction price fluctuations. Coin base |
[에너지경제신문 유예닮 기자] Amid voices calling on Wall Street to recognize cryptocurrency Bitcoin as an asset, global investment bank Morgan Stanley has launched a bitcoin investment product to its customers, the first in the industry. With this opportunity, it is noteworthy whether Bitcoin can be recognized as an institutional asset.
On the 17th (local time), CNBC said, “Morgan Stanley is the first major financial company in the United States to incorporate bitcoin funds into the assets of clients receiving asset management advisory services.” “We will release three.” This means that it allows clients receiving asset management advisory services to invest in funds that incorporate Bitcoin.
Officials who requested anonymity said, “Morgan Stanley moved when a voice came out from customers about cryptocurrency investment,” and “This is a significant step to recognize Bitcoin as an asset.”
Major Wall Street banks have been under pressure to enter cryptocurrency following the Bitcoin rally over the past year. In this situation, Morgan Stanley, which manages 4 trillion dollars (about 4,500 trillion won), is the first to be launched. Actually Goldman Sachs, JPMorgan Chase and Bank of America (BoA) are considering entering the bitcoin market, but direct investment in bitcoin is still prohibited.
However, as Bitcoin is highly volatile, Morgan Stanley is also planning to limit investment.
The bank reserves assets of at least $2 million (approximately 2.2 billion won), and among them, only individual customers with “tolerance to large risks” see that Bitcoin fund investments are suitable. In the case of corporate clients, the deposit assets must be 5 million dollars (about 5.6 billion won) or more. In both cases, the account must be opened for more than 6 months, and the size of the investment is also limited to 2.5% of the total assets.
Two of the bitcoin funds for investment are products of’Galaxy Digital’, a cryptocurrency company founded by Mike Novograz, and the otherIs a fund jointly operated by FS Investment and the New York Digital Investment Group (NYDIG).
The minimum investment for the’Galaxy Bitcoin Fund’ and the’FS NYDIG Select Fund’ is $25,000 (about 28 million won), and the’Galaxy Institutional Bitcoin Fund’ is more than $5 million (about 5.6 billion won).
Regarding the timing of investment, an official said, “If the Bank Financial Advisory Group completes the training course linked to new products, it will be possible to invest,” he said. “It will be next month as soon as possible.”
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▲ Bitcoin transaction price fluctuations. Coin base |
As of 1:30 p.m. on the 18th Korean time, the bitcoin price is recorded at 6,717,766 won, up 5.91% from 24 hours ago on Coinbase. Bitcoin price was close to 70 million won on the 14th. Since then, profit-taking sales have been released, and after plunging to the beginning of 60 million won, it has continued sideways.