Share this article
Morgan Stanley Bitcoin Fund Draws $29.4M in 2 Weeks, Filings Show
Morgan Stanley’s new bitcoin product is already one of the largest funds of its kind by investor count.
By Danny Nelson
Updated May 9, 2023, 3:18 a.m. Published Apr 22, 2021, 3:23 p.m.
One of Morgan Stanley’s new bitcoin-only private funds raised $29.4 million from 322 investors in its first 14 days, according to regulatory documents published Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Managed by FS Investments with NYDIG custodying the bitcoin, the fund is one of two new bitcoin investment vehicles offered by newly bullish Morgan Stanley. When news of the institutional stalwart’s bitcoin offering broke last month, it kicked Wall Street’s crypto musings into high gear.
The early returns for FS NYDIG Select Bitcoin Fund LP indicate investors are indeed hungry for accessing bitcoin products through their institutional managers. Passive funds such as Morgan Stanley’s fare give clients unwilling to custody their own keys an easy way into the asset class.
In just 14 days, Morgan Stanley’s FS/NYDIG fund has become one of the most popular private bitcoin vehicles, beating out far older industry offerings from Pantera and Galaxy by investor count, according to fund data compiled by CoinDesk.
Galaxy is also accepting bitcoin investments from Morgan Stanley in a pre-existing fund. Galaxy’s three bitcoin funds (one general, two institutional) have been around since late 2019 but began accepting investments through Morgan Stanley in early April 2021. They reported around $250 million in lifetime sales earlier this month.
A source familiar with the trio told CoinDesk they receive investments from a mix of Morgan Stanley clients and outside investors.
Seeking exposure to bitcoin via a fund is not without its drawbacks. Morgan Stanley limits clients’ bitcoin bets to 2.5% of their total net worth. They must have at least $2 million in net worth and they must pay an upfront placement fee of 3% for bitcoin investments under $250,000, according to offering documents obtained by CoinDesk.
The average investment in Morgan Stanley’s new bitcoin fund was around $91,000. Morgan Stanley will receive placement fees, according to the regulatory documents.
Morgan Stanley declined to comment. NYDIG and FS Investments did not immediately respond to CoinDesk.
UPDATE (April 22, 22:06 UTC): Adds information about Galaxy's fund composition.
Mehr für Sie
Was Sie wissen sollten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mehr für Sie
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
Was Sie wissen sollten:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
