Interest in Bitcoin is spreading as its price keeps rising, topping $50,000 in early trading on Monday before retreating.
Morgan Stanley is considering adding Bitcoin to the array of investments at its Counterpoint Global unit, a “high conviction active” manager involved in public and private markets, according to Bloomberg News, citing “people with knowledge of the matter.”
The firm declined to comment to Bloomberg and did not respond to emails from ThinkAdvisor, but a filing by NYDIG Asset Management for a Bitcoin ETF names Morgan Stanley as the fund’s “initial Authorized Participant.” It’s not clear at this point if the Counterpoint Global unit is connected to that filing.
According to the SEC filing, the NYDIG Bitcoin ETF would invest in Bitcoin and trade on the NYSE Arca. To date, the Securities and Exchange Commission has rejected multiple Bitcoin ETF applications. There is at least one other Bitcoin investment vehicle pending before the agency — the Van Eck Bitcoin Trust — for which the firm filed after the agency rejected two other Bitcoin ETFs from Van Eck.
In Canada, the Ontario Securities Commission has approved the launch of a Bitcoin ETF from Toronto-based Purpose Investments.