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Morgan Stanley to offer bitcoin swap trading

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Another of the world’s largest investment banks is quietly building a product that will allow its clients to trade bitcoin, at least indirectly.

Morgan Stanley, the sixth-largest bank in the U.S. by assets, is joining Wall Street’s race toward an institutional-friendly bitcoin derivative, Bloomberg reported on Thursday, citing a person familiar with the matter. The financial institution is creating a proprietary derivatives product that will give traders “synthetic exposure” to the price of bitcoin. These derivatives would allow investors to indirectly invest in the market’s flagship currency, allotting them the option to buy into long or short positions through the contracts.

From the report:

“The U.S. bank will deal in contracts that give investors synthetic exposure to the performance of Bitcoin, said the person, who asked not to be identified because the information is private. Investors will be able to go long or short using the so-called price return swaps, and Morgan...(continued)
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