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

Investment funds from significant U.S. financial investment bank Morgan Stanley have actually increased their direct exposure to Bitcoin through purchases of shares of Grayscale Bitcoin Trust.


According to filings from the United States Securities and Exchange Commission on Tuesday, the Morgan Stanley Insight Fund increased its holdings of Grayscale Bitcoin Trust, or GBTC, shares more than 63%, from 928,051 in the 2nd quarter of 2021 to 1,520,549 since Sept. 30. In addition, filings on the company’s Growth Portfolio show it holding 3,642,118 GBTC shares in the 3rd quarter of 2021, a boost of 71% when compared to 2,130,153 shares since Q2. The Morgan Stanley Global Opportunity Portfolio held 1,463,714 GBTC, a 59% boost from 919,805 shares in 3 months.

At the time of publication, the rate of GBTC is $45.72, making the financial investment bank’s direct exposure to Bitcoin (BTC) throughout these 3 funds approximately $303 million with 6,626,381 shares since Sept. 30. The BTC rate was under $50,000 for much of September, however the crypto property has actually given that reached an all-time high rate of $69,000 prior to relapsing to the $56,000s.

The particular portfolios and funds enable Morgan Stanley to acquire direct exposure to Bitcoin (BTC) without investing straight in the cryptocurrency. Cointelegraph reported in September that the company’s Europe Opportunity Fund, which purchases developed and emerging business throughout Europe, more than doubled its shares of Grayscale Bitcoin Trust given that April. However, the fund has actually not reported extra BTC direct exposure at the time of publication.

Related: Grayscale mean strategies to transform Bitcoin trust into BTC-settled ETF

Whether investing indirectly through Grayscale or by backing blockchain platforms, Morgan Stanley appears to be dipping its toes deeper into the crypto area. In September, the company revealed it would be establishing a crypto-focused research study department targeted at checking out the “growing significance of cryptocurrencies and other digital assets in global markets.”