CryptoNewsZ
2026-06-05 17:12:55
2026-06-05 17:12:55
Morgan Stanley, Galaxy Digital Launch Crypto ETP Referral
Morgan Stanley Wealth Management has partnered with Galaxy Digital to offer a new referral capability enabling eligible clients to convert their existing cryptocurrency holdings, such as Bitcoin and Ether, into shares of spot crypto ETPs, including its own Bitcoin Trust, through an efficient in-kind creation process. This partnership will reduce the barrier to entry by reducing the minimum transaction amount from $25 million to $5 million. It will also reduce the processing time by as much as 75%, which allows digital assets to be added to regular brokerage accounts more smoothly. On June 5, Morgan Stanley Wealth Management, a leading American multinational investment bank and financial services company, announced the launch of its in-kind referral partnership with Galaxy Digital. This agreement is expected to introduce a way for eligible clients to use in-kind creation for spot cryptocurrency exchange-traded products (ETPs). Under this setup, clients will be able to convert the cryptocurrency they already hold into shares of spot crypto ETPs more easily than before. This announcement is a major development where traditional finance is connecting with the digital asset sector. It is created on Morgan Stanley’s growing presence in the digital asset sector, including the launch of its own Bitcoin trust, called the Morgan Stanley Bitcoin Trust (MSBT), earlier in 2026. How the Morgan Stanley-Galaxy Referral Works This new partnership will allow clients of Morgan Stanley Wealth Management to lend their digital assets, such as Bitcoin, Ether, or Solana, to Galaxy Digital. In return, those clients will receive shares in spot crypto exchange-traded products, including Morgan Stanley’s own MSBT fund, which tracks the price of Bitcoin. There are many major benefits of this partnership. At times, traditional processes can take more than 4 weeks. This referral system can shorten that time by up to 75% in some cases. Second, lower entry barriers. Galaxy has reduced the minimum transaction size for referred clients from $25 million down to $5 million. This makes the service accessible to more qualified investors. Another major benefit of this partnership is the integration of a better portfolio. Shares of the exchange-traded products can fit into existing brokerage accounts, and they support features such as margin trading and lending. Morgan Stanley is providing educational materials and handles referrals only when clients ask for them without any solicitation. Galaxy manages the actual transactions, the process of bringing clients on board, and the execution of trades. The two firms are not affiliated, and Morgan Stanley does not receive any payment from these referrals. Zane Glauber, Global Head of Distribution at Galaxy, stated in the press release that, “We are excited to support referrals from Morgan Stanley Wealth Management to offer an efficient and secure path to access spot crypto ETPs. 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.” Recent Progress in Crypto ETPs In July 2025, the SEC approved in-kind creation and redemptions for certain Bitcoin and Ether exchange-traded products. This moved beyond the earlier system that only allowed cash transactions. This change improves liquidity, narrows the difference between buying and selling, and offers tax benefits because it avoids forced sales of assets. Morgan Stanley itself launched the MSBT in April 2026. This made the company the first asset manager affiliated with a US bank to offer a crypto exchange-traded product. Other firms, such as Invesco with its Bitcoin and Ethereum ETFs that are partnered with Galaxy, have also expanded their digital asset offerings. Alison Nest, Head of Investment Solutions Products, Morgan Stanley Wealth Management, said, “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. This referral arrangement represents a significant step forward in bridging traditional finance and decentralized finance, providing more investors with streamlined opportunities to diversify.” Recently, VanEck announced the launch of VBNB as the first U.S. spot ETF offering direct exposure to BNB.
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