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:
“Investorswould 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 marksthe newestcommitment to Bitcoin interest from Wall Street King ‘GoldmanSachs’ disapproving its last week claims that it has dropped its future plans for a Bitcoincommerceproduct.
However, a Morgan Stanleyrepresentativedeclined to comment anything furtherconcerningthe future plans implementations.
In addition to theunconfirmedMorgan plans, the past week hasadditionallyseen another bankinggiantCitigroup insiders hint that it’scoming up withan idea toenter into the Bitcoin tradingproducts.
Like similar potential offerings from Morgan andGoldman, Citigroup’straderswould beoffered togain exposure to Bitcoin marketswhile notholding any of their digital currencies directly, inwhat’sreferred to asnon-custodialtrading.
Reactions to the apparentflowof institutional investors via non-custodialwayshas been met with criticism from several crypto figures, noticeably by Nick Szabo and Andreas Antonopoulos.