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

Morgan Stanley’s investment funds have extended their exposure to Bitcoin by purchasing shares in Grayscale Bitcoin Trust.

According to SEC documents released on Tuesday, the Morgan Stanley Insight Fund grew its holdings in Grayscale Bitcoin Trust, or GBTC, by more than 63 percent, from 928,051 shares in the second quarter of 2021 to 1,520,549 shares as of Sept. 30. Furthermore, according to documents on the firm’s Growth Portfolio, it had 3,642,118 GBTC shares in the third quarter of 2021, up 71 percent from 2,130,153 shares in Q2. In three months, the Morgan Stanley Global Opportunity Portfolio owned 1,463,714 GBTC, up 59 percent from 919,805 shares.

The price of GBTC is $45.72 at the time of writing, giving the investment bank a total exposure to Bitcoin (BTC) of $303 million with 6,626,381 shares as of Sept. 30. For all of September, the BTC price remained below $50,000, but the cryptocurrency has since risen to an all-time high of $69,000 before falling down to $56,000s.

Morgan Stanley can obtain exposure to Bitcoin (BTC) through the corresponding portfolios and funds without investing directly in the cryptocurrency. The firm’s Europe Opportunity Fund, which invests in established and rising firms throughout Europe, has more than quadrupled its shares of Grayscale Bitcoin Trust since April. However, at the time of publishing, the fund had not disclosed any further BTC exposure.

Morgan Stanley appears to be sinking its toes deeper into the crypto industry, whether through Grayscale or through financing blockchain platforms. The business said in September that it will establish a crypto-focused research section to investigate the “increasing importance of cryptocurrencies and other digital assets in global markets.”

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As of Sept. 30, the investment firm’s Bitcoin exposure across three large funds was around $303 million, with 6,626,381 shares.

Morgan Stanley’s investment funds have extended their exposure to Bitcoin by purchasing shares in Grayscale Bitcoin Trust.

According to SEC documents released on Tuesday, the Morgan Stanley Insight Fund grew its holdings in Grayscale Bitcoin Trust, or GBTC, by more than 63 percent, from 928,051 shares in the second quarter of 2021 to 1,520,549 shares as of Sept. 30. Furthermore, according to documents on the firm’s Growth Portfolio, it had 3,642,118 GBTC shares in the third quarter of 2021, up 71 percent from 2,130,153 shares in Q2. In three months, the Morgan Stanley Global Opportunity Portfolio owned 1,463,714 GBTC, up 59 percent from 919,805 shares.

The price of GBTC is $45.72 at the time of writing, giving the investment bank a total exposure to Bitcoin (BTC) of $303 million with 6,626,381 shares as of Sept. 30. For all of September, the BTC price remained below $50,000, but the cryptocurrency has since risen to an all-time high of $69,000 before falling down to the $56,000s.

Morgan Stanley can obtain exposure to Bitcoin (BTC) through the corresponding portfolios and funds without investing directly in the cryptocurrency. The firm’s Europe Opportunity Fund, which invests in established and rising firms throughout Europe, has more than quadrupled its shares of Grayscale Bitcoin Trust since April. However, at the time of publishing, the fund had not disclosed any further BTC exposure.

Morgan Stanley appears to be sinking its toes deeper into the crypto industry, whether through Grayscale or through financing blockchain platforms. The business said in September that it will establish a crypto-focused research section to investigate the “increasing importance of cryptocurrencies and other digital assets in global markets.”