Morgan Stanley increases its exposure to Bitcoin, holding $300 million in grayscale stocks

The investment fund of Morgan Stanley, a major US investment bank, has increased its exposure to Bitcoin by purchasing shares of Grayscale Bitcoin Trust.

According to documents filed by the US Securities and Exchange Commission on Tuesday, the Morgan Stanley Insight Fund Increase Its shareholding in Grayscale Bitcoin Trust (GBTC) increased from 928,051 shares in the second quarter of 2021 to 1,520,549 shares on September 30.In addition, the company’s growth portfolio file exhibit It held 3,642,118 GBTC shares in the third quarter of 2021, an increase of 71% from the 2,130,153 shares in the second quarter.Morgan Stanley Global Opportunity Portfolio hold 1,463,714 GBTC, an increase of 59% from 919,805 shares in three months.

As of press time, the price of GBTC is $45.72, giving investment banks’ exposure to Bitcoin (Bitcoin) As of September 30, the total market value of these three funds was approximately US$303 million, holding 6,626,381 shares. BTC prices were below $50,000 for most of September, but crypto assets have since Set a record high US$69,000, then fell back to US$56,000.

The respective investment portfolios and funds allow Morgan Stanley to access Bitcoin (Bitcoin) Without directly investing in cryptocurrencies. Cointelegraph reported in September that the company’s European Opportunity Fund invests in mature and emerging companies across Europe, more than Doubled its shares in Grayscale Bitcoin Trust Since April. However, the fund has not yet reported additional BTC exposure at the time of its release.

related: Grayscale hints at plans to convert the Bitcoin Trust into an ETF settled in BTC

Whether through indirect investment through Grayscale or through Support blockchain platform, Morgan Stanley seems to be more deeply involved in the field of encryption. In September, the company announced that it would Establish a research department focused on cryptocurrency It aims to explore “the growing importance of cryptocurrencies and other digital assets in the global market”.