According to Bloomberg, Morgan Stanley now will be engaged in clearing of bitcoin futures trading to its customers, and that means that Goldman Sachs is no longer the only firm on wall street, which provides such services.
Morgan Stanley joined Goldman Sachs, TD Ameritrade, E * Trade and others in clearing bitcoin futures CME and Cboe.
The reaction of the bitcoin community to the emergence of a regulated bitcoin futures were mixed, some have suggested that this will allow players from wall street to manipulate the underlying bitcoin market. However, almost all agree that the more firms on wall street, become involved in cryptocurrency, the more legitimacy it gives them.
Financial officer of Morgan Stanley Jonathan Pruzan said that this is due to services for its institutional clients:
I would not say that this activity is a lot of work, we decided to do this in response to the request of institutional clients who want to work with derivatives.
Recently there is growing evidence that institutional investors are beginning to play an increasingly important role on the bitcoin market. If investors of this level are interested in bitcoin, it certainly will have a positive impact on the price. Coinbase, for example, is counting on it and aim it at them when creating the custodian of the Depositary. Coinbase CEO Brian Armstrong believes that institutional investors may be willing to invest in cryptocurrency up to $ 10 billion.