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Qualifying Morgan Stanley clients had invested $29.3 million in the new FS NYDIG Select Bitcoin Fund, according to paperwork filed with the Securities and Exchange Commission this morning. 

The filings also show that a total of 322 clients were participating in the funds as of earlier this month. The assets under management and the number of investors are a bit dated because SEC rules allow registration to occur up to 15 days after the first sale has occurred. 

News about Morgan Stanley being the first big bank to give its clients bitcoin exposure through three new funds was originally reported by CNBC last month. Their story cited an internal memo that was sent to the bank's financial advisors.

Due to the volatility of bitcoin prices, the bank put some restrictions on which Morgan Stanley clients will have access to the funds.

According to the CNBC report:

Investment firms need at least $5 million at the bank to qualify for the new stakes. In either case, the accounts have to be at least 6 months old.

And even for those accredited U.S. investors with brokerage accounts and enough assets to qualify, Morgan Stanley is limiting bitcoin investments to as much as 2.5% of their total net worth, said the people.

Two of the three new funds, Galaxy Bitcoin Fund LP and FS NYDIG Select Bitcoin Fund, have $25,000 minimums. Meanwhile, the Galaxy Institutional Bitcoin Fund LP has a $5 million minimum.

Note: An earlier version of this story incorrectly said that Morgan Stanley clients had invested $145 million in three bitcoin funds. The two Galaxy funds are older and include investments from clients outside the bank.

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