Morgan Stanley has registered to add bitcoin exposure to a dozen investment funds, according to a company filing with the Securities and Exchange Commission (SEC).
The filing stated that certain funds might have been exposed to bitcoin “indirectly,” through cash settled futures or investments with Grayscale Bitcoin Trust, which has investments in bitcoin.
Bitcoin futures expose a fund to the risks present from bitcoin, including the well-documented volatility and the unregulated exchange trading, which makes it more susceptible to fraud.
The SEC filing goes on to list some of the other factors affecting the further development of cryptocurrency, including the continued growth of the payment type, government regulations, changes in the customer demographics and the maintenance and development of open-source software, among other things.
In other news, Future FinTech Group, a blockchain-based eCommerce group, has announced a direct offering for $35 million, according to a press release.
The offering is expected to close around Tuesday (April 6), the release stated. Alliance Global Partners (AGP) is acting as the sole placement agent. With the net proceeds from the offering, Future intends to work on growth capital and general working capital.
The agreement includes the sale of 5.7 million shares for $6.10 per share, the release stated.
Lastly, bitcoin payment provider and wallet Handcash has rolled out Duro, which is a universal currency for apps and games, according to a press release.
Duro equates to groups of 500 satoshis with no decimals. That, according to the release, is important to developers, who will now have the ability to price digital goods confidently in a universal unit of account.
“The goal is to change, say, 100 Pokémon coins and 5 Candy Crush diamonds for 100Đ and 30Đ — pricing digital goods in the same unit of account across different apps and games creating universal and real value,” the release stated.
Duros are not tokens, the release clarified; they are Bitcoin Satoshi Vision (BSV) satoshis, with 500 of them precisely. The Duro is a new unit of BSV.
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