Morgan Stanley Increases Bitcoin Exposure, Holds $300 Million in Grayscale Stock

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2021-11-25 12:45:28

The investment firm’s exposure to Bitcoin across the three major funds totals around $303 million with 6,626,381 shares as of September 30.

Hedge funds from major US investment bank Morgan Stanley have increased their exposure to Bitcoin through the purchase of shares of Grayscale Bitcoin Trust.

According to filings from the U.S. Securities and Exchange Commission on Tuesday, the Morgan Stanley Insight Fund increased its Grayscale Bitcoin Trust, or GBTC, holdings by more than 63%, from 928,051 in Q2 2021 to 1,520,549 30. Additionally, the company’s portfolio growth profile shows it held 3,642,118 shares of GBTC in the third quarter of 2021, up 71% from 2,130,153 shares. votes like that of Q2. Morgan Stanley’s Global Opportunity Portfolio holds 1,463,714 GBTC, up 59% from 919,805 shares in three months.

At press time, the price of GBTC was $45.72, making the investment bank’s Bitcoin (BTC) exposure across these three funds roughly $303 million with 6,626,381 shares as of May 30. 9. BTC price was below $50,000 for most of September, but the crypto asset has since hit an all-time high of $69,000 before sliding back to $56,000.

The respective portfolios and funds give Morgan Stanley 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 more than doubled the shares of Grayscale Bitcoin Trust since April. However, the fund did not report on the amount of additional BTC at the time of publication.

Whether investing indirectly through Grayscale or by supporting blockchain platforms, Morgan Stanley seems to be dipping deeper into the crypto space. In September, the company announced that it would be setting up a crypto-focused research department to explore “the growing importance of cryptocurrencies and other digital assets in the market.” Global”.


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