Morgan Stanley Wealth Management and Galaxy Digital launched a referral program letting eligible clients lend Bitcoin, Ethereum or Solana for shares in crypto ETFs like the firm's new Bitcoin trust. The move avoids taxable disposals while cutting onboarding time from over a month to a week.
Minimums Slashed
Galaxy Digital dropped the lending threshold for Morgan Stanley referrals from $25 million to $5 million. That change opens the program to more high-net-worth clients. Previously, only ultra-wealthy portfolios could access the service without selling crypto holdings.
One-Week Onboarding
Setup time now takes about a week versus the prior four-week process. That 75% speedup means clients move faster into regulated ETF products. The streamlined flow reduces execution risk during transitions.
Cheapest Bitcoin ETF Anchor
The Morgan Stanley Bitcoin Trust launched in April as the cheapest U.S. Bitcoin ETF. Clients lend existing Bitcoin to get exposure through this low-cost vehicle. They avoid taxable events by not selling their underlying coins.
New Path for Wealth Clients
This builds on Galaxy's New York license and prior European ETP work with DWS. Morgan Stanley and Galaxy stated the deal bridges traditional and decentralized finance. Eligible clients can now apply through their advisors with the lower $5 million minimum.
