Asset management Morgan Stanley is all set to become the first big US bank to offer wealthy clients access to the popular cryptocurrency, Bitcoin, a CNBC report said on Wednesday.
As per the report, Morgan Stanley informed its financial advisers that it would launch access to three funds allowing ownership of the digital currency.
In addition to this, Grayscale Investments, the company that owns world’s largest Bitcoin fund, is also offering new trusts to invest in selected five cryptocurrencies, including Chainlink, Filecoin and Livepeer, Ethereum, and Decentraland.
On Thursday, at 11.36 p.m. the value of Bitcoin was up by 5.12 per cent to $58,869.56. Within the period of a few hours bitcoin’s market cap surged from 1.03 trillion to 1.10 trillion.
This year, Bitcoin rose around 72 per cent after tech billionaire Elon Musk’s electric vehicle company Tesla invested $1.5 billion in it.
Bitcoin, which was launched back in 2009, hit the headlines in 2017 after soaring from less than $1,000 in January to almost $20,000 in December of the same year.
Buyers are aggressively accumulating more and more Bitcoin (BTC). This is the driving factor that has propelled the price growth of BTC towards this new all-time high value.