Morgan Stanley Now Owns More Than 1M Shares In GBTC

Morgan Stanley now owns more than 1 million shares in the Grayscale Bitcoin Trust according to pseudonym market analyst MacroScope who broke the news on Twitter as we are reading more in our latest Bitcoin news today.

The SEC files show that over 30 Morgan Stanley funds hold huge amounts of GBTC shares and the biggest one seems to be Morgan Stanley’s Insight Fund with more than 928,051 worth around $36 million or over 700 BTC. Morgan Stanley Institutional Fund, the institutional trust, the Variable Insurance Fund, and others seem to have bigger amounts as well. Back on June 28^th, 2021, when BTC was still trading in the low $30,000s as Morgan Stanley disclosed a huge position on the GBTC via the Europe Opportunity Fund.

The bank-owned 28,298 shares and the investment was valued at $1.3 million which is small compared to the filings today. At that moment, MacroScope predicted that the bank will disclose exposition to BTC via an investment product. A few months before, the banking giant became teh first US-based financial institution to offer the clients exposition to the BTC funds and with over $4 trillion in assets under management, the bank doubled down on the industry as it seems right now. In addition to the Grayscale Bitcoin Trust’s huge position, Morgan Stanley was investing in crypto-based companies as it added more BTC exposition via the 12 investment vehicles.
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The bank was also a major investor in the crypto company supported by Coinbase and It led a $48 million Series B funding of blockchain-based platform Securitize.

In SEC filings, Morgan Stanley has just reported owning a large amount of Grayscale Bitcoin across multiple portfolios.

The largest of these appears to be 928,051 shares held by Morgan's Insight Fund.

These are major disclosures.

Link to all filings:https://t.co/Vi4iiBa5J5 pic.twitter.com/FZfU8qS0TX

— MacroScope (@MacroScope17) August 25, 2021

JP Morgan, Goldman Sachs, and Wells Fargo, the biggest bank in the US, seem to want to expand their BTC exposition via different investments. Popular exchange Coinbase had benefited from the interest as JP Morgan and other players purchased huge quantities of the shares. Today’s filing by Morgan Stanley could launch a new wave of Adoption which is similar to the one that took BTC’s price into uncharted territory at the start of 2021 and at the time of writing, the Bitcoin market cap trades at $48,825 with a 1.1% and 9.6% profit in the daily and weekly charts. Thanks to the price movements, Morgan Stanley now owns more than 1 million shares in the Grayscale Bitcoin Trust.