Morgan Stanley First Big U.S. Bank to Offer Clients Access to Bitcoin Funds and Amazon Announces Expansion of Telehealth Services
On Wednesday, shares of Morgan Stanley closed up 1.60%.
Shares rose as the company announced it would become the first big U.S. bank to offer its wealthy client’s access to Bitcoin funds. According to people familiar with the matter, the investment bank, which has $4 trillion in client assets, notified its financial advisors on Wednesday that it is launching access to three funds that allow bitcoin ownership.
Bitcoin’s continued rally in the past year has placed pressure on Wall Street companies to consider getting involved with the emerging asset.
Shares of Morgan Stanley are up over 20% this year.
On Monday, shares of Amazon closed up 1.42%.
Shares of the American e-commerce company closed up as the company announced it would be expanding its telehealth service for its employees in all 50 states.
The telehealth service is called Amazon Care. It started as a pilot initiative two years ago to provide virtual urgent care visits for Amazon employees in Washington state, with free telehealth consultations and fee-based in-home visits by nurses for vaccines and COVID testing.
The virtual care portion of Amazon Care will be available to Amazon workers and other businesses in the U.S. this year, but the in-person services will initially only be available in Washington and near Amazon’s new second headquarters in the Washington, D.C. metro area.
Shares of Amazon are down just over 3% this year.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.