Morgan Stanley, Galaxy to Help Wealthy Clients Convert Crypto Holdings Into Spot ETFs

Morgan Stanley is teaming up with Galaxy Digital to offer high-net-worth clients a service that converts cryptocurrency holdings into spot exchange-traded funds.

BlockBeats reported on June 5, citing Barron's, that Morgan Stanley's wealth management unit plans to work with Galaxy Digital to let clients who directly hold Bitcoin, Ether and Solana convert those assets into spot crypto ETFs.

The service will be offered to clients with at least $5 million in assets. The converted ETFs can be used as collateral like other securities, allowing clients to borrow or raise funds against them.