Morgan Stanley Enables Crypto Lending for Clients
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Morgan Stanley has announced that eligible wealth management clients can now lend Bitcoin, Ethereum, or Solana to Galaxy Digital in exchange for shares of spot crypto exchange-traded products (ETPs). This move allows clients to generate yield on their crypto holdings while gaining exposure to regulated ETPs. Galaxy will coordinate in-kind creations with authorized participants, delivering ETP shares directly into client accounts. The partnership marks a significant step in integrating digital assets into traditional finance, potentially paving the way for broader institutional adoption. However, it also tests Bitcoin's viability as lending collateral, introducing new counterparty and market risks.
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