Morgan Stanley To Offer Bitcoin Trading Options
US multinational bank Morgan Stanley set to offer Bitcoin swap trading for its clients after unconfirmed sources report about the matter on September 13.
Morgan Stanley to Offer Swap Trades?
Bloomberg reporter Alistair Marsh and Business Insider’s Frank Chaparro both reported that the giant plans to offer trading in complex derivatives linked to Bitcoin.
According to Marsh, sources stated that Morgan Stanley ”will deal in contracts that give investors synthetic exposure to the performance of Bitcoin”, similiar to plans from other Wall Street giants including Goldman Sachs and Intercontinental Exchange.
Marsh reports: “Investors will be able to go long or short using the so-called price return swaps, and Morgan Stanley will charge a spread for each transaction.”
So far, Morgan Stanley had issued cautious statements towards Bitcoin and other crpytocurrencies, especially for the short term future. Previously, Mike Wilson, working as an analyst for Morgan Stanley, said:
Our call is not for a simultaneous and large repricing across risk assets, but for a bear market that rolls through different assets and sectors at different times with the weakest links (Bitcoin, EM debt and equities, BTPs, funding spreads, base metals, and early cycle industries like home builders and airlines) being hit first/hardest.
Meanwhile, the crypto industry are into heated debates about Wall Street’s giants’ plans. Earlier, it was reported that Goldman Sachs had since shelved its crypto trading desk but the bank officially confirmed that the reports are not true.
Similarly, Morgan Stanley has yet to confirm or deny the Bloomberg’s reports but the topic has already begun drawing attention from crypto enthusiasts.