Morgan Stanley owns more than 1 million shares of Grayscale Bitcoin Trust

Morgan Stanley owns more than 1 million shares of Grayscale Bitcoin Trust

More than 30 Morgan Stanley funds own a large number of GBTC shares. The largest appears to be Morgan’s Insight Fund with 928,051 shares worth around $ 36 million. However, Morgan Stanley Institutional Fund Inc., Morgan Stanley Institutional Trust, Morgan Stanley Variable Insurance Fund and others also appear to have large sums.

On June 28, 2021, with BTC still trading at a minimum of $ 30,000, Morgan Stanley revealed a large position in the GBTC through his European Opportunity Fund. At that time, the bank owned 28,298 shares. The investment was valued at $ 1.3 million, which is relatively small compared to today’s documents.

A few months ago, the banking giant became the first US-based financial institution to offer its clients exposure to BTC funds.

Morgan Stanley and others want a piece of BTC

In addition to its large position in the Grayscale Bitcoin Trust, Morgan Stanley invests in crypto companies. In April, the bank added another exposure to BTC through 12 investment instruments. The bank was also a major investor in a crypto company supported by Coinbase. Morgan Stanley led the $ 48 million funding of the Securitize blockchain platform.

Wells Fargo, JP Morgan, Goldman Sachs, every major bank in the US wants to expand its exposure to BTC through various investments. The popular crypto exchange Coinbase benefited from this interest, as JP Morgan and other major players bought a large number of its shares.

Yesterday’s Morgan Stanley submission could set off a new wave of acceptance, similar to the one that carried the BTC award to uncharted territory in early 2021.