The main reason is that this time is just the craze of Bitcoin, so I want to launch a Bitcoin fund to get more funds. In fact, after the skyrocketing price of Bitcoin in the past year, Wall Street has completely changed its view on it. When Bitcoin first started trading, almost all financial institutions on Wall Street regarded it as a kind of speculation. Many Wall Street investors have expressed their pessimism about Bitcoin, including many well-known investors such as Buffett and Ridario. But as you can see, in the past year, Bitcoin has ushered in the largest increase in history, and celebrities including Musk have been crazy about it.

Musk even changed some of his Tesla company's reserve currency into bitcoin, and changed his social signature into a money master. Musk made no secret of his optimism about bitcoin. On the other hand, Wall Street has also ushered in a change of face. Financial tycoons who were not optimistic about Bitcoin earlier began to consider bitcoin as one of the investment targets. Even some conservative financial institutions, including established insurance companies, have begun to list Bitcoin as one of their investment targets.

So it's not surprising that Morgan Stanley launched Bitcoin Fund this time. Although it didn't buy the fund directly, it began to open the management channels of Bitcoin Fund to investors, which shows that at least Morgan Stanley has started to study Bitcoin.

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The insider disclosed details about the internal communication of the bank. He said that Morgan Stanley took this move after customers asked for exposure to Bitcoin, which was an important step to accept Bitcoin as an asset class. The rise of Bitcoin in the past year has put pressure on Wall Street companies to consider getting involved in this emerging asset class.

but at least so far, the bank only allows its wealthy customers to invest in this volatile asset. It believes that such assets are suitable for those who have assets of at least $2 million. Strong risk tolerance? Investors. Investment companies need at least $5 million to gain exposure to the fund. In either case, the account must be at least six months old. People familiar with the matter said that even those American qualified investors who have brokerage accounts and sufficient assets, Morgan Stanley limited bitcoin investment to 2.5% of its total net assets.