One of the world’s largest banks, US Morgan Stanley (NYSE:MS), plans to offer Bitcoin (BTC)-based financial instruments for its clients in the form of swaps, an anonymous source with access to the bank’s strategies told Bloomberg on Thursday. A bank spokesperson declined to comment on the report, neither confirming nor denying the information.
Morgan Stanley chose the derivatives contract strategy as the institution does not intend for direct BTC trading, according to the source. The bank is technically fully-prepared to offer Bitcoin swaps and will tie them to the BTC futures. Morgan Stanley will officially launch the swaps after institutional investors give signs of significant interests in this offer and after the completion of an internal approval process.
“The U.S. bank will deal in contracts that give investors synthetic exposure to the performance of Bitcoin, said the person, who asked not to be identified because the information is private. Investors will be able to go long or short using the so-called price return swaps, and Morgan...
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