Morgan Stanley has been clearing Bitcoin futures contracts for big institutional clients and convenes a regular meeting of executives to consider how else to engage with cryptocurrencies, Chief Financial Officer Jonathan Pruzan said.
“If someone wants to do a trade on the futures and settle in cash, we’ll do that,” Pruzan said Thursday in a telephone interview. “I wouldn’t say it’s been a lot of activity, but it’s for core institutional clients who want to participate in a derivatives transaction.”
Morgan Stanley joins rival Goldman Sachs Group Inc. as the only major Wall Street firms known to offer the service to clients.
Last month, Bitcoin took a step into the realm of regulated finance with the launch of futures contracts on exchanges from Cboe Global Markets Inc. and CME Group Inc.