Grayscale and Morgan Stanley Embrace Crypto, Will Wells Fargo Follow?
The post Grayscale and Morgan Stanley Embrace Crypto, Will Wells Fargo Follow? appeared on BitcoinEthereumNews.com.
Grayscale Investments has extended its product line by introducing two new cryptocurrency investment funds, the Grayscale Bittensor Trust and Grayscale Sui Trust. This expansion is to satisfy the increasing demand from investors for Crypto exposure with lower risk. Products like Bitcoin ETFs have become largely popular among investors. Grayscale Going Gaga Over Crypto The Bittensor Trust will allocate all the capital to TAO, which is the native token of Bittensor protocol and is working to push forward Open Source Artificial Intelligence. The Sui Trust will be focused on SUI, which is a token of the Sui protocol, it is a Layer-1 blockchain designed for scalable dApps. According to Rayhaneh Sharif-Askary, the Head of Product and Research at Grayscale, these protocols hold great potential to transform their respective industries. Sharif added, “Bittensor is at the center of the growth of decentralized AI, while Sui is redefining the smart contract blockchain.” Grayscale’s decision to include these tokens reflects its commitment to providing crypto investment opportunities to its investors. Currently, these new trusts are available for daily subscription to qualified individual and institutional accredited investors. Morgan Stanley Introduces Bitcoin ETFs to Wealthy Clients Concurrently with Grayscale’s announcement, Morgan Stanley has started offering Bitcoin ETFs to its clients. This is a major step towards the provision of cryptocurrency services by big Wall Street firms. Morgan Stanley’s advisors can now recommend Bitcoin ETFs to clients who meet certain wealth thresholds. Only clients with a net worth of at least $1.5 million can access this service. The financial giant has given the green light to BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund for clients’ investments. This selection offers the chance to invest in Bitcoin via products offered by prominent financial institutions. The bank’s approval follows a detailed compliance and review process, highlighting its response to client demand…
Filed under: News - @ August 8, 2024 4:18 pm