In previous times, institutions on the Wall Streets showed some level of restraints and skepticism when dealing with the crypto industry. However, with the record growth and the highly increasing rate of adoption of these digital assets, these notable financial institutions are beginning to have a rethink.
A report from Bloomberg has said that leading financial institution, Morgan Stanley, is also beginning to consider investing in the leading crypto asset. According to the report, the bank is considering if its investors would be interested in taking the plunge into the crypto industry.
The Bloomberg report also went on to state that the interested party in the crypto investment is Cointerpoint Global, a subsidiary of Morgan Stanley Investment Management that has $150 billion in assets under management. On the bank’s website, this arm is described as an investment fund “whose market value can increase significantly for underlying fundamental reasons.”
Available data shows that this investment fund totally outclassed the performance of MSCI All Country World Net Index returns of 16.25% while it recorded a growth of 72.7%.
Morgan Stanley recent interest in the crypto asset is not entirely new as the bank already invests with Microstrategy, a leading adopter of Bitcoin. Microstrategy currently owns over 70,000 units of BTC. Not only that, the bank is not alone in its recent interest in the crypto king, JP Morgan has confirmed that it could also invest in the asset soon.