One of the largest American banks, Morgan Stanley, did not rule out adding Bitcoin derivatives to several of its own funds. This is stated in a filing with the U.S. Securities and Exchange Commission (SEC).
The document mentions 12 funds. Some of them could gain exposure to the cryptocurrency through Bitcoin futures or the Grayscale Bitcoin Trust (GBTC).
According to the filing, investments could be routed through a Cayman Islands-based subsidiary established in accordance with local law.
Morgan Stanley allows that each fund could transfer up to 25% of its assets to the subsidiary, which would invest them in Bitcoin.
Earlier in March 2021, CNBC sources reported plans for Morgan Stanley to open access to Bitcoin funds for accredited investors with at least $2 million in capital.