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2021.04.23

Morgan Stanley Offers Bitcoin Fund Raises Approximately 3.2 Billion Yen

Morgan Stanley, a major US financial institution, has started offering the fund “FS NYDIG Select Bitcoin Fund LP” related to crypto assets (virtual currency) Bitcoin (BTC) and raised about 3.2 billion yen.

Bitcoin funds have raised about 3.2 billion yen from 322 qualified investors in the last 14 days, according to documents filed with the SEC.

The private fund invests exclusively in Bitcoin, managed by alternative investment firm FS Investments, and managed by cryptocurrency investment firm NYDIG as a custody.

There are also investment restrictions as a fund regulation, and the amount that investors can invest is stipulated as 2.5% of net assets (minimum 220 million yen), and for investment amounts of 27 million yen or less, a 3% commission must be paid in advance. is there. It is said that the average investment amount by individuals is about 10 million yen.

In March, it was reported that it plans to provide institutional clients with new access to Bitcoin-related funds. According to media reports, FS NYDIG Select Bitcoin Fund LP and others fall into this category, and it is possible that at least two Bitcoin-related funds are being offered at this time.

https://www.coindesk.com/morgan-stanley-bitcoin-fund-draws-29-4m-in-2-weeks-filings-show

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