Morgan Stanley Increases Its Exposure To Bitcoin By Buying More GBTC Shares
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Answer Morgan Stanley Increases Its Exposure To Bitcoin By Buying More GBTC Shares
A recent filing with the US Securities and Exchange Commission (SEC) revealed that international banking giant Morgan Stanley has a growing appetite for bitcoin, even as the cryptocurrency’s price rises.
According to several filings with the SEC, Morgan Stanley has significantly increased its exposure to Bitcoin.
The company did this by purchasing additional shares in the Grayscale Bitcoin Trust (GBTC).
Summarizing the difference between the shares held by Morgan Stanley in June and recent stats, here’s:
- Growth portfolio (as of June 30): 2,130,153 shares
Growth portfolio (as of September 30th): 3,642,118 shares - Insight Fund (as of June 30): 928,051 shares
Insight Fund (September 30th): 1,520,549 shares - Global Opportunity Portfolio (as of June 30): 919,805 shares
Global Opportunity Portfolio (as of September 30): 1,463,714 shares
In new SEC filings, Morgan Stanley revealed a significant increase in Bitcoin exposure in its asset management business.
Read:Are the bitcoin bears back? Could Bitcoin Dip Below $60,000?
Earlier this year, Morgan reported buying Grayscale BTC in a large number of investment funds. For the three funds with the largest holdings in grayscale…
– MacroScope (@MacroScope17) November 24, 2021
From the numbers presented above, it appears that Morgan Stanley is making serious efforts towards bringing current and future customers to Bitcoin.
We mentioned in Bitcoin Arab earlier that “Morgan Stanley” published a comprehensive guide explaining in detail the intricacies of cryptocurrencies for wealth management clients.
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