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After series of Wall-Street players, now Morgan Stanley’s turn to contemplate ‘testing fate in cryptocurrency derivatives trading

Today, Bitcoin price has considerably carried further gains to the current $6,565.90 levels or about 1.18%, BTCUSD (at BITFINEX exchange), surged from the lows of $6,119.5 owing to the constructive news of BlackRock, Inc. which is the world’s largest asset manager and exchange-traded fund (ETF) provider, who is reportedly exploring opportunities to legally take part in the cryptocurrency market. 

Like JP Morgan’s Dimon’s U turn earlier this year who went constructive on investing into blockchain and cryptocurrency projects, BlackRock, Inc. seems to be keen on finding ways to fetch handsome yields from the swiftly growing cryptocurrency industry even though the company’s past cynicism towards the same. 

Well, on the other hand, another IB giant, Goldman has earlier consistently been constructive on crypto-space, saw Bitcoin "Broadly Heavy. It contemplates an idea of rendering custodian services for the cryptocurrencies. But of late, there was a news that this IB giant postponed all its crypto projects.

However, the CFO Martin Chavez clarified by denying the news, regarding them as just rumours during the TechCrunch Disrupt Conference. 

Citigroup has also been no exception, placing itself to be a beneficiary of the mounting institutional interest, the financial giant seems to be intending to release digital asset receipts (DARs) that will empower its clients to trade into cryptos with the assistance of custodian for the ownership of the coins. Such tokens would be safeguarded by a distinctive custodian that screens under the set regulations which offers the clients a safeguarded trading channel. Nevertheless, we are yet to obtain the better clarity as to how the Securities and Exchanges Commission regulates DARs as the regulator has rejected a series of Bitcoin ETFs in recent past.

While the SEC is yet to approve any Bitcoin ETF, any constructive developments by the US regulator could make an access for institutional investors to the digital assets.

For now, Morgan Stanley has been the latest candidate among the Wall Street firms to venture into Bitcoin trading, who want to test its luck with the objectives to offer its clients derivatives instruments to the crypto-assets, as per the Bloomberg reports. The reports evolving that the investment bank has already equipped with the prerequisite infrastructure for the trading and only awaits validation of abundant institutional demand. 

Thereby, Morgan Stanley resembles the other Wall Street players, such as, Goldman Sachs, Citigroup, JP Morgan and Blackrock who have shown interest for the cryptos in the different strategic approaches in order to have competitive edge in the swiftly evolving industry.

Currency Strength Index: FxWirePro's hourly BTC spot index is rising higher towards 128 levels (which is bullish), while hourly USD spot index was at -47 (bearish) while articulating (at 06:23 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex

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