Morgan Stanley (NYSE:MS) plans to offer its customers complex derivatives that will be tied to Bitcoin (available on Coinbase) (BTC), Bloomberg reported this morning. The Morgan Stanley Bitcoin (available on Coinbase) derivatives will push the investment bank in the running with its competition currently dabbing in the cryptocurrency space.

Morgan Stanley Bitcoin (available on Coinbase) Derivatives

According to a person familiar with the venture, Morgan Stanley, one of the world’s largest investment banks, is trying to create ways for its client to get involved in the digital currency market.

Institutional investors have shown that they don’t want to actually own any Bitcoin (available on Coinbase) but more so want to trade for or against the price of it. The US bank will deal with contracts that give its investors synthetic exposure to the performance of cryptocurrency, the individual involved in the matter told Bloomberg.

The bank is already prepared to offer Bitcoin (available on Coinbase) and plans on launching when institutional client demand is proven. Morgan Stanley investors will be able to go long or short using their so-called price return Bitcoin (available on Coinbase) swaps.

The investment bank will charge a spread for each transaction, the person said.