Morgan Stanley, one of the largest US banks, during July-September, continued to build up its position in the Grayscale Bitcoin Trust (GBTC) through various funds available to its clients.
In new SEC filings, Morgan Stanley has disclosed a dramatic increase in Bitcoin exposure in its asset management business.
Earlier this year, Morgan reported buying Grayscale BTC in a large number of investment funds. For the three funds with the largest Grayscale holdings …
– MacroScope (@ MacroScope17) November 24, 2021
The largest investments were in Morgan Stanley Growth Portfolio, which acquired 1,511,965 GBTC shares (up to 3,642,118 GBTC shares). Their valuation was $ 192,829,700, which is equivalent to 0.52% of the assets under its management.
Two other funds – Morgan Stanley Insight Fund and Morgan Stanley Global Opportunity Portfolio – increased their investments in GBTC from 928,051 to 1,520,549 shares and from 919,805 to 1,463,714 shares, respectively.
Recall that in October, an investment bank banned employees of the wealth management division from offering clients a Bitcoin futures ETF launched by ProShares. Prior to this, CEO James Gorman said that there was little customer interest in Bitcoin.
Morgan Stanley has previously started to form a team that will focus on studying the impact of cryptocurrencies on equities and fixed income instruments.
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