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The crypto space is hot property at the moment even in the wake of recent market slumps. More institutionalized finance exchanges and organizations are looking to provide a wider range of products for their clients and these must now include Bitcoin futures. The latest to join the blockchain train is Morgan Stanley.
As the first Bitcoin futures contracts expired and were settled this week, the CBoE hailed them a success and a victory for those bearish on Bitcoin. Morgan Stanley has joined its rivals Goldman Sachs and will begin clearing Bitcoin contracts for its clients according to
Due to its nerve-wracking volatility, many of Wall Street’s major banks have been holding off clearing crypto contracts and taking a wait and see approach. According to Bloomberg the only other bank offering to clear them at the moment is Goldman Sachs which demanded that clients set aside funds equal to the full value of their Bitcoin futures trade as a condition for clearing the transaction. This may have deterred many of them from entering such highly leveraged contracts.