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Morgan Stanley tops up Bitcoin investments, now holds $300M in Grayscale shares By BTC Peers

by Mike Robinson

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© Reuters. Morgan Stanley holds 300M Grayscale shares, ups its Bitcoin investments

U.S. investment banking heavyweight Morgan Stanley (NYSE:) increased their exposure by purchasing more shares in Grayscale Bitcoin Trust.

A filing by the United States Securities and Exchange Commission on Tuesday shows that the Morgan Stanley Insight Fund has increased its holdings in Grayscale Bitcoin Trust shares (GBTC), by more than 63%, from 928.051in Q2 and 1,520.549 as of September 30.

Filings on the firm’s Growth Portfolio indicate that it held 3,642,118 GBTC shares in Q3 of 2021, a 71% increase compared to its 2,130,153 shares as of Q2. Morgan Stanley Global Opportunity Portfolio had 1,463,714 GBTC. This is 59% more than the 919,805 shares it held in just three months.

GBTC trades at $45.72 per hour as of press-time. This brings the investment bank’s Bitcoin holdings across all three funds to roughly $303 million, with 6,626,381 shares as of Sept. 30.

Morgan Stanley is able to invest directly in Bitcoin (BTC), but these portfolios or funds allow it to be exposed to the currency.

Grayscale is an investment platform that allows the firm to invest indirectly in crypto. It also supports blockchain platforms. It revealed in September that it would be setting up a crypto-focused research division aimed at exploring the “growing significance of cryptocurrencies and other digital assets in global markets.”

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