Morgan Stanley Wealth Management announced a new referral arrangement with Galaxy Digital through which eligible clients can lend cryptocurrency to Galaxy and receive shares of exchange‑traded products (“ETPs”) with exposure to spot crypto, including, but not limited to, the Morgan Stanley Bitcoin Trust (MSBT), offered by Morgan Stanley Investment Management.
This model is designed for clients that want to lend crypto assets for repayment in traditional investment products in an efficient manner, enabling portfolio integration, including margin and lending capabilities, while reducing onboarding times and costs.
“Morgan Stanley has been investing in the DeFi space for some time, and we are proud to support a referral capability with Galaxy to provide Wealth Management clients with an institutionalized pathway that helps integrate digital assets into their portfolio,” said Alison Nest, Head of Investment Solutions Products, Morgan Stanley Wealth Management. “This referral arrangement represents a significant step forward in bridging traditional finance and decentralized finance, providing more investors with streamlined opportunities to diversify.”
How it works
Morgan Stanley Wealth Management is providing clients with educational resources about digital assets and facilitating referrals to Galaxy.
Under Galaxy’s model, a client lends specified digital assets (e.g., Bitcoin, Ether, Solana) to Galaxy. Once Galaxy determines it can settle such loan in ETP shares, Galaxy will coordinate an in‑kind creation with an Authorized Participant, and ETP shares will be delivered into the client’s account of their choosing.
Today, onboarding timelines for these transactions can exceed four weeks. Through the development of this referral capability, onboarding times may be reduced by as much as 75% in some cases.
In addition, Galaxy will reduce its lending transaction minimum for Morgan Stanley‑referred clients from $25 million to $5 million, expanding access to qualified clients who meet eligibility requirements.
“We are excited to support referrals from Morgan Stanley Wealth Management to offer an efficient and secure path to access spot crypto ETPs,” said Zane Glauber, Global Head of Distribution at Galaxy. “Streamlined onboarding and lowered transaction minimums make it easier for clients to integrate digital assets alongside traditional investments, supporting a holistic approach to wealth management.”
Source: Morgan Stanley Wealth Management
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