According to CNBC, Morgan Stanley will allow certain clients to access Bitcoin (BTC) funds, but under very specific conditions. We tell you!
Morgan Stanley sees the highest degree of acceptance of Bitcoin
Today, CNBC reported that Morgan Stanley sent an internal memorandum through which it reported that it is launching access to three funds that allow the ownership of Bitcoin (BTC).
However, customers must meet certain requirements. Accordingly, they must have accredited investor status, have equity in Morgan Stanley valued at $ 2 million or more, and maintain certain account history. In the case of investment companies, they must have capital in Morgan Stanley for $ 5 million.
The minimum investments for Galaxy Bitcoin Fund LP and Galaxy Institutional Bitcoin Fund LP are $ 25,000 and $ 5 million, respectively, and the minimum for the FS NYDIG Select Fund is $ 25,000. But in addition, Morgan Stanley limits investments in Bitcoin to 2.5% of a client’s net worth.
In this sense, as we reported today in CryptoTrend, the interest of institutional investors in Bitcoin appears to have fallen during this first quarter of 2021 compared to 2020. However, the adoption of the leading crypto continues.
We want to know your opinion! What do you think of Morgan Stanley’s move in relation to BTC?
Visa wants to enable purchases of the leading crypto
Alfred Kelly, CEO of Visa, assured during an interview that the company is seeking to allow the purchase of the leading crypto with Visa credentials.
But, in addition, he claimed to be working on a wallet that allows crypto to be translated into a fiat currency. Why? Well, Kelly believes that this would allow some 70 million merchants around the world to accept the leading crypto as a payment method.
Fiat 500 rewards drivers with crypto
According to a press release, owners of the Fiat 500, the new electric car, will be rewarded with crypto for sustainable driving behavior.
«We want to support the green behaviors of our customers and reward them with exclusive benefits. By simply driving the New 500, connected and equipped with the new infotainment system, the KiriCoins can be collected in a virtual wallet that is displayed in the Fiat application.», Assured Gabriele Catacchio, manager of the e-Mobility program.
And, if it doesn’t sound interesting enough, the statement assured that by driving 10,000 kilometers per year on average, users can earn around € 150 ($ 178) during this period.
Coinbase registers 114.9 million shares for direct listing on Nasdaq
According to CoinTelegraph, the crypto exchange Coinbase registered 114,850,769 class A common shares for a direct listing on the Nasdaq stock exchange.
“Based on the information available to us, the low and high selling price per share of Class A common shares and Class B common shares (on a converted basis) for such private transactions during the first quarter of 2021… was $ 200 and $ 375, respectively. The volume weighted average price per share for the first quarter of 2021 (through March 15, 2021) was $ 343.58 …»States the statement from the crypto exchange.
In a few lines …
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