A $150 billion investment unit of Morgan Stanley is exploring bitcoin: report
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.
Counterpoint Global—a unit of Morgan Stanley Investment Management—is exploring whether it will make a bet on bitcoin, according to a Bloomberg News report.
Citing sources, the report said that the unit, which manages $150 billion, would need approvals from the wider firm and regulators to make such an investment. Still, it represents Wall Street's broader push into the cryptocurrency, which is increasingly being viewed as an inflation hedge asset.
A spokeswoman for Morgan Stanley declined to comment on Bloomberg's report.
Morgan Stanley made headlines during the height of the 2017 initial coin offering bubble for exploring the launch of a possible swap-like product tied to bitcoin. That product, ultimately, did not launch.
TAGS
AUTHOR
Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].
See More
