The global investment bank based in the United States, Morgan Stanley is looking to offer Bitcoin swap trading for its clients according to sources. According to Alistair Marsh, a reporter from Bloomberg, people who are familiar to the matter have said that the giant company âplans to offer trading in complex derivativesâ linked to Bitcoin. According Alistairâs sources, the global investment bank âwill deal in contracts that give investors synthetic exposure to the performance of Bitcoin,â and essentially copying plans from Wall Streetâs Goldman Sachs and Intercontinental Exchange with others. Marsh said:
âInvestors will be able to go long or short using the so-called price return swaps, and Morgan Stanley will charge a spread for each transaction.âThis comes 6 months after the bank said it would team up with clearing Bitcoin futures contracts. Morgan Stanley has published statements on the short term future of the crypto markets this week with the strategist Mike Wilson making it known over what could be a bear market in 2019. He was quoted on 12th September saying:
âOur call is not for a simultaneous and large repricing across risk assets, but for a bear market that rolls through different assets and sectors at different times with the weakest links (BItcoin, EM debt and equities, BTPs, funding spreads, base metals, and early cycle industries like home builders and airlines) being hit first or hardest.âPlans for Bitcoin interaction are still a big topic within the cryptocurrency space. Reports say that Goldman has since but its crypto trading desk plans on the back burner for the time being, this sent confusion throughout the markets. However, some reports has classed this as fake news. Despite all this, Morgan Stanley still hasnât commented confirming any of this information from Bloomberg. What do you think about these reports about Morgan Stanley? Weâd love to hear your thoughts in the comments down below!