Morgan Stanley Teams With Galaxy Digital to Help Wealthy Clients Shift Crypto Into Spot ETFs
Uk Jin
Summary
- Morgan Stanley will work with Galaxy Digital to offer a service that converts high-net-worth clients' cryptocurrency holdings into spot exchange-traded funds (ETFs).
- Morgan Stanley's wealth management division will allow clients to convert direct holdings of Bitcoin (BTC), Ether (ETH) and Solana (SOL) into spot crypto ETFs.
- The service is aimed at clients with at least $5 million in assets, and the converted ETFs can be used as collateral for loans or fundraising.
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Morgan Stanley is teaming up with Galaxy Digital to offer high-net-worth clients a way to convert cryptocurrency holdings into spot exchange-traded funds.
BlockBeats reported on June 5, citing Barron's, that Morgan Stanley's wealth management division will work with Galaxy Digital to let clients who directly hold Bitcoin, Ether and Solana shift those assets into spot crypto ETFs.
The service is available to clients with at least $5 million in assets. The converted ETFs can be used as collateral like other securities, allowing clients to borrow or raise funds against them.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
