Traditional financial giants have finally lowered their guard; a threshold of 5 million is practically a bargain for high-net-worth clients, and this physical asset conversion process indeed saves time.

Morgan Stanley Wealth Management partners with Galaxy Digital, allowing eligible high-net-worth clients to lend cryptocurrencies such as Bitcoin, Ethereum, Solana, and others to Galaxy, and receive spot crypto ETP shares through in-kind conversion without needing to liquidate the assets first. Both parties stated that this mechanism can reduce the process time for transferring crypto assets into ETPs by up to 75%, and Galaxy will lower the minimum lending transaction size for Morgan Stanley-referred clients from $25 million to $5 million. (The Block)