According a recent news by ’Bloomberg,’ anonymous sources familiar with this matter revealed that the U.S. multinationals would be following the foot steps of fellow Wall Street Players in chasing new Bitcoin exposure options.
Adding further, it was also revealed that ‘Morgan Stanley’ would be dealing in smart contracts, providing its investors with the artificial exposure to the performance of the bitcoins.
Mentioning more able about the details it was disclosed that:
“Investors would be able to choose the long or short go using the so called price return swaps, and the bank would charge a spread for each transaction.”
The news marks the newest commitment to Bitcoin interest from Wall Street King ‘Goldman Sachs’ disapproving its last week claims that it has dropped its future plans for a Bitcoin commerce product.
However, a Morgan Stanley representative declined to comment anything further concerning the future plans implementations.
In addition to the unconfirmed Morgan plans, the past week has additionally seen another banking giant Citigroup insiders hint that it’s coming up with an idea to enter into the Bitcoin trading products.
Like similar potential offerings from Morgan and Goldman, Citigroup’s traders would be offered to gain exposure to Bitcoin markets while not holding any of their digital currencies directly, in what’s referred to as non-custodial trading.
Reactions to the apparent flow of institutional investors via non-custodial ways has been met with criticism from several crypto figures, noticeably by Nick Szabo and Andreas Antonopoulos.