Morgan Stanley has reportedly become the latest mainstream bank to ready a jump into cryptocurrency waters.

Bloomberg, quoting an unnamed source, reports the bank plans to offer trading in complex derivatives tied to bitcoin (BTC).

Morgan Stanley will deal in contracts that give investors “synthetic exposure to the performance of bitcoin,” this person told Bloomberg. In addition, investors will be able to go long or short using so-called price return swaps. Morgan Stanley will charge a spread for each transaction, the person said.

Morgan Stanley does not plan to trade bitcoin directly and its swaps are tied to bitcoin futures contracts, according to Bloomberg’s source. This program will launch once there is “proven institutional client demand and after the completion of an internal approval process.”

A spokesman for Morgan Stanley wouldn’t comment. Read more here.

ThirtyK Staff
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