Morgan Stanley launches Bitcoin futures contracts

After the expiry of the first Bitcoin futures contracts launched by the CBOE last month, Morgan Stanley has announced that it will launch new futures contracts. The firm has also shown that it will not lag behind its rival Goldman Sachs. According to Business Insider, Morgan Stanley will begin preparing Bitcoin futures contracts for its clients.

Explanation from Pruzan, head of Morgan Stanley

The bank’s chief financial officer, Jonathan Pruzan, said that the firm’s Bitcoin trade on CBoE and CME Group announced that it has completed futures transactions. In a recent interview with Bloomberg, Pruzan said:

If someone wants to trade futures and deposit cash, we will. I wouldn’t say it’s a very active activity, but we will make it happen for core corporate clients who want to participate in these transactions.

Due to the volatility in the cryptocurrency market, many banks on Wall Street are monitoring contracts and acting accordingly. plans to do. We can easily say that this step of Morgan Stanley is very important for the crypto money market. Because institutional investors will contribute significantly to the development of this sector. If such institutions approach the issue of buying Bitcoin with serious interest, the price will definitely gain upward momentum. While these statements are already coming, Coinbase CEO Brian Armstrong also stated that institutional investors may be ready to invest up to 10 billion dollars in the near future.