The investment bank Morgan Stanley is studying the possibility of launching complex derivatives that will provide investors with indirect access to the cryptocurrency market.
The US-based Morgan Stanley plans to offer investors trading in so-called price return swaps tied to the largest cryptocurrency. Investors will be able to open short and long positions on the new complex contract, Bloomberg reports citing a source familiar with the matter.
From a technical point of view, the infrastructure is ready for launch. But the bank is still studying the risks associated with such a derivative and is trying to ensure that there is sufficient demand from institutional investors.
The bitcoin swaps from Morgan Stanley will be tied to futures contracts for bitcoins. The bank does not plan to trade bitcoin directly, rather than to give its customers exposure to the performance of bitcoin. Earlier, the bank’s CEO James Gorman said that Morgan Stanley does not plan to give its customers the opportunity to directly buy and sell bitcoins. Instead, according to Gorman, the bank will focus on creating derivatives that are tied to various digital assets.
Published at Fri, 14 Sep 2018 03:07:38 -0400