Morgan Stanley Wealth Management has agreed a referral arrangement with Galaxy Digital. Eligible clients can lend cryptocurrency in exchange for shares in spot crypto exchange-traded products, including the Morgan Stanley Bitcoin Trust (MSBT).

The structure lets investors move existing crypto holdings into regulated brokerage products without selling them. It also lowers the entry threshold and shortens onboarding, widening access for qualified wealth clients who already hold digital assets.

How the In-Kind Referral Works

A client lends specified assets such as Bitcoin (BTC), Ether (ETH), or Solana (SOL) to Galaxy. Once Galaxy confirms it can settle the loan in ETP shares, it coordinates an in-kind creation with an…