A $150 billion investment unit of Morgan Stanley is exploring bitcoin: report

Bitcoin • February 13, 2021, 10:57AM EST
UPDATED: February 15, 2021, 5:35AM EST
Bastian Kienitz / Shutterstock

Counterpoint Global—a unit of Morgan Stanley Investment Management—is exploring whether it will make a bet on bitcoin, according to a Bloomberg News report. 

Citing sources, the report said that the unit, which manages $150 billion, would need approvals from the wider firm and regulators to make such an investment. Still, it represents Wall Street's broader push into the cryptocurrency, which is increasingly being viewed as an inflation hedge asset.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

A spokeswoman for Morgan Stanley declined to comment on Bloomberg's report.

Morgan Stanley made headlines during the height of the 2017 initial coin offering bubble for exploring the launch of a possible swap-like product tied to bitcoin. That product, ultimately, did not launch.

About Author

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

More by Frank Chaparro