Morgan Stanley clients to invest in NYDIG Bitcoin fund

Asset managers New York Digital Investment Group (NYDIG) and FS Investments have filed with the U.S. Securities and Exchange Commission a filing for a bitcoin fund intended for clients of investment bank Morgan Stanley.

The instrument will be the fourth such product from the financial organisation since March linked to the first cryptocurrency. At that time the bank, one of the first among major Wall Street players to opened access to digital assets.

According to the filing, Morgan Stanley “will receive a portion of the fees for placement and servicing of clients”.

FS NYDIG Institutional Bitcoin Fund will be the second fund from NYDIG and FS Investments offered by the investment bank. The other two are managed by Galaxy Digital’s Mike Novogratz.

In April, Morgan Stanley allowed the addition of bitcoin futures to its own funds.

In June, Bloomberg reported plans by rival Goldman Sachs to offer futures and options on Ethereum to clients.

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