Morgan Stanley Deepens Crypto Exposure Through Grayscale Bitcoin Trust


Leading financial investment bank Morgan Stanley has when again deepened its crypto bet through Grayscale Bitcoin Trust. The megabank had actually been purchased crypto through the trust for a while now throughout different funds. In a current SEC filing, the bank exposed that it had actually drastically increased its holdings in the trust over the summertime. When it appeared like the more comprehensive market was stressing due to low rates, the wealth management company had actually been filling its bags.

In a tweet from MacroScope, it was mentioned that the megabank had not just deepened its bet however had actually broadened it through direct exposure in bitcoin by spreading out the holdings throughout extra funds.

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The biggest Morgan Stanley funds with stakes in the Bitcoin Trust saw a boost that drove their shareholdings into the millions. Numbers reveal that each of the leading 3 funds had actually grown their holdings in Grayscale Bitcoin Trust by a minimum of 50%.

The Growth Portfolio taped the biggest addition of shares as over one million shares had actually been included over a three-month duration. From June 30th to September 30th, the holdings of each fund are as follows;

Growth Portfolio grew from 2,130,153 shares to 3,642,118 shares. Insight Fund grew its holdings from 928,051 shares to 1,520,549 shares. While the Global Opportunity fund now sits at 1,463,714 shares, up over 500,000 shares from its 919,805 number at the end of June.

These funds assist the wealth supervisor offer crypto direct exposure for its customers without needing to in fact hold any bitcoin on its balance sheets. The Grayscale Bitcoin Trust likewise boasts financial investments from leading financial investment companies such as Cathie Wood’s ARK Invest.

Bitcoin price chart from TradingView.com

Bitcoin trending at $57K | Source: BTCUSD on TradingView.com

Morgan Stanley Looking Positively Towards Bitcoin

Morgan Stanley has actually constantly looked positively towards the property class when it concerns the huge U.S. banks. In March 2021, the bank ended up being the very first significant U.S. bank to use bitcoin direct exposure to its customers. It offered its customers a method to access the growing crypto market through bitcoin funds, although the service was scheduled for the rich customers of the wealth supervisor.

Related Reading | Bitcoin Leads Market As Inflows See An Uptick From Previous Week

Last month, James Gorman, Chief Executive Officer of Morgan Stanley, had actually shared favorable views on the cryptocurrency market. During a revenues call, Gorman discussed that he did not believe that crypto and by extension, bitcoin, was a trend, mentioning “I don’t think it’s going away.”

This remained in contrast to fellow huge bank manager James Dimon who had actually revealed that he believed Bitcoin was useless. However, JPMorgan, which Dimon acts as CEO, would provide its customers as “clean as possible access”, describing that its customers were grownups who might make their own choices.

Featured image from Nairametrics, chart from TradingView.com



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