A big shot in the arm for cryptocurrency markets as leading investment bank Morgan Stanley plans to launch funds to allow its clients to invest in Bitcoin. The information was gleaned from an internal memo that was distributed during the previous session in which the bank revealed its interest in launching three funds to allow its individual clients to begin investing in cryptocurrencies by purchasing Bitcoin.

This development offers a huge leap forward for digital currencies towards mainstream acceptance and adoption, and is likely to encourage other leading investment banks and financial institutions to follow suit shortly. While the interest in cryptocurrencies has grown leaps and bounds over the years, there has been considerable skepticism about them from the conventional financial markets due to an absence of regulations.

However, since late last year, cryptocurrencies, especially Bitcoin have been on a strong bull run and it has been next to impossible to not take notice and get in on the action. In addition to Morgan Stanley, five other US banks, including Goldman Sachs, JPMorgan Chase and the Bank of America, have also shown interest in including Bitcoin as a possible asset to invest in.

The news was first published by CNBC that revealed that Morgan Stanley will initially offer these Bitcoin-related funds only to individual investors who have invested a minimum of $2 million with the bank. Clients can choose to invest up to 2.5% of their total net worth, with a minimum of $25,000 set as an entry price to invest in the shortlisted funds.