Wall Street's big business is about to enter bitcoin. It's not a dream for bitcoin to continue to reach new heights

With the increasing acceptance of bitcoin, even the big banks on Wall Street will join bitcoin. Morgan Stanley will become the first large US bank to provide bitcoin funds for customers.

Morgan Stanley told its financial advisers in an internal memorandum that it would launch three funds to allow investors to hold bitcoin, people familiar with the matter said on Wednesday. Customers may invest as early as next month after the bank's financial advisers complete training courses related to the new products, people familiar with the matter said.

Two of the three funds are from galaxy digital, an encryption company, and the other is from FS investments, an asset management company, and nydig, a bitcoin company. The minimum investment of galaxy bitcoin Fund LP and FS nydig select fund is US $25000, while the minimum investment of Galaxy institutional bitcoin Fund LP is US $5 million.

People familiar with the matter explained that Morgan Stanley's decision was made after customers asked for exposure to cryptocurrency, which is also an important step for Wall Street to accept bitcoin as an asset class. Over the past year, bitcoin's surge has put pressure on Wall Street companies to invest in cryptocurrency.

It is worth noting that the current investment threshold is quite high. Morgan Stanley only allows high net worth customers to hold bitcoin. It believes that bitcoin is suitable for customers with strong risk tolerance, and the assets under management in the bank need to reach at least $2 million. Investment institutions need at least $5 million in bank assets to qualify for bitcoin investment. In either case, the customer's account opening time in the bank must be 6 months or more.