Morgan Stanley increased exposure to Bitcoin, held $300M in Grayscale shares


The mutual funds of Morgan Stanley, a major US investment bank, increased their exposure to bitcoin by buying shares in the Grayscale Bitcoin Trust.

Its Morgan Stanley Insight Fund Grayscale Bitcoin Trust, or GBTC, increased more than 63%, from 928,051 in the second quarter of 2021 to 1,520,549 in September, according to registrations to the US Securities and Exchange Commission on Tuesday. 30. In addition, the company’s growth portfolio data shows that it owned 3,642,118 shares in GBTC in the third quarter of 2021, an increase of 71% from 2,130,153 shares in the second quarter. Morgan Stanley’s Global Opportunities portfolio includes 1,463,714 GBTC, up 59% from 919,805 shares in three months.

At press time, GBTC is priced at $ 45.72, bringing the Bitcoin (BTC) investment bank in these three funds to nearly $ 303 million with 6,626,381 shares as of September 30th. The price of BTC was below $ 50,000 for most of September. But since then, cryptocurrencies reached a record high of $ 69,000 and then fell back to $ 56,000.

Morgan Stanley’s matching wallets and funds provide access to Bitcoin (BTC) without investing directly in the cryptocurrency. Cointelegraph reported in September that the company’s European Opportunity Fund, which invests in established and emerging companies across Europe, has doubled its stake in Grayscale Bitcoin Trust since April. At the time of publication, however, the fund has not reported any further exposure to BTC.

Related: Grayscale suggests plans to convert bitcoin funds into bitcoin-stable ETFs.

Whether you invest indirectly through Grayscale or support blockchain platforms, it seems that Morgan Stanley is diving deeper and deeper into the cryptocurrency space. In September, the company announced the establishment of a research unit focused on cryptocurrencies with the aim of studying “the growing importance of cryptocurrencies and other digital assets in global markets”.



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