Morgan Stanley Owns Over 1 Mln Shares Of Grayscale Bitcoin Trust

The largest US bank Morgan Stanley has opened a position with the Grayscale Bitcoin Trust (GBTC) in various funds available to clients. Morgan Stanley Insight Fund has acquired 928,051 GBTC shares. Their valuation was $27,665,000, which is equivalent to 0.34% of the assets under management (AUM).

In addition to the Morgan Stanley Insight Fund, other investment bank structures – Morgan Stanley Institutional Fund and Morgan Stanley Variable Insurance Fund – began to own bitcoin indirectly. Such investments can be up to 25% of AUM, according to filings for the US Securities and Exchange Commission (SEC).

On June 28, 2021, with bitcoin trading at $30,000, Morgan Stanley announced a major position in GBTC through its Morgan Stanley Europe Opportunity Fund. The investment was estimated at $1.3 mln, which is relatively small compared to today's reports.

Image: Forbes