American investment bank Morgan Stanley plans to offer clients a new way to invest in bitcoin without buying it. That is, clients will be able to enter into contracts for the exchange of interest payments in respect of bitcoin without actually owning the cryptocurrency itself.
Contracts will be tied to fluctuations in cryptocurrency prices, which will make it possible to make money on changes in its rate.
Neither the bank nor its clients will directly buy bitcoin (BTC), the offered contracts will be tied to bitcoin futures, and payments to investors will be made depending on the increase or decrease in the price of bitcoin over a set period of time. In fact, Morgan Stanley may already be offering these trading contracts, but is waiting for the internal approval process to complete.
Although the SEC is still undecided on its stance on bitcoin, this does not prevent the bank from looking for opportunities to offer clients cryptocurrency products in which volatility will be a benefit rather than a risk.
Other large banks also intend to use this opportunity, for example, Citigroup has developed a tool called Digital Asset Receipts, which also allows clients to invest in cryptocurrency without buying it, and the company Goldman Sachs intends to create a cryptocurrency trading platform in the future.
According to thenextweb.com
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