Morgan Stanley‘s CFO Jonathan Pruzan said during the bank’s first-quarter earnings call on Friday that if clients showed more interest, the bank would sell more crypto services.
Morgan Stanley has announced that it is providing exposure to bitcoin (BTC, -1.77 percent ) to its wealth management clients through a pair of external crypto funds.
Jonathan Pruzan, the $4 trillion wealth management firm’s CFO, said on the bank’s first-quarter earnings call that eligible investors would be able to use two passive funds.
“As we see more interest, we’ll work with regulators to provide services we think are appropriate,” .Pruzan said of its crypto services
Individual investors with at least $2 million or investment companies with at least $5 million will invest in Morgan Stanley funds, according to CNBC. Individual investors are only allowed to invest 2.5 percent of their net worth in bitcoin, according to the bank.
According to the CNBC study, two of the funds are from Galaxy Digital, while the third is a collaboration between FS Investments and NYDIG.
Morgan Stanley did not say which funds were involved during the earnings call.