According to Bloomberg, a New York-based banking giant Morgan Stanley is mulling over offering Bitcoin swaps. Morgan Stanley will allow its clients to go long or short, charging transaction costs. Thus, investors will have an opportunity to dip their toes in crypto without actually having to own digital assets.
An anonymous source states that the product is ready from a technical standpoint, but it will not be launched until institutional investors show more interest in crypto-related derivatives.
Back in January, Morgan started clearing Bitcoin futures contracts while its CEO James Gorman stated that Bitcoin was “not going away.”
Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!