A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson

(Reuters) - Morgan Stanley plans to offer trading in derivatives tied to bitcoin, Bloomberg reported on Thursday, citing a person familiar with the matter.

The bank does not plan to trade bitcoin directly and its swaps are tied to bitcoin futures contracts, the person said.

Morgan Stanley did not immediately respond to a Reuters request for comment.

Last week, Business Insider reported that rival Goldman Sachs Group Inc was ditching plans to open a desk for trading cryptocurrencies, as the regulatory framework for crypto remains unclear.