According to documents filed with the U.S. Securities and Exchange Commission (SEC), as of June 30, 2021, more than 30 portfolio funds under banking giant Morgan Stanley held more than 1 million shares of Grayscale Bitcoin Trust (GBTC). The largest seems to be Morgan Stanley Insight Fund, which owns more than 928,051 GBTC, worth about $36 million or more than 700 bitcoins. Morgan Stanley Institutional Fund, Morgan Stanley Institutional Trust Fund, Morgan Stanley Variable Insurance Fund, etc. also hold a large number of GBTC shares. In March, Morgan Stanley became the first major U.S. bank to offer its wealthy clients access to a bitcoin fund. The move was a major step in Wall Street’s acceptance of bitcoin as an asset class and came after Morgan Stanley’s clients requested exposure to the cryptocurrency. In April this year, Morgan Stanley submitted another document to the SEC to gain exposure to Bitcoin. According to the document, 12 Morgan Stanley investment funds will allocate funds in Bitcoin financial products. These funds will be able to invest in cash-settled Bitcoin futures contracts or GBTC shares offered by Grayscale. In addition to holding a large position in the Grayscale Bitcoin Trust, Morgan Stanley has also been investing in crypto-based companies. Additionally, the bank is a major investor in a crypto company backed by Coinbase. Morgan Stanley led a $48 million Series B round for blockchain company Securitize. Wells Fargo, JPMorgan Chase, Goldman Sachs, and other major US banks seem to want to expand their Bitcoin exposure through different investments. Morgan Stanley’s filing today could spark a new wave of Bitcoin adoption. |
<<: Musk, the "dog dealer", announced that he will accept Bitcoin for car purchases again!
The philtrum refers to the indentation in the mid...
There are good and bad facial features. What are ...
What is the fate of a boy? The fate of a boy is a...
The mouth is something people use every day and i...
We all know that the lifeline represents a person...
The relationship between mother-in-law and daught...
In physiognomy, we can tell whether a woman’s for...
According to a new survey by the University of Ca...
The Bitcoin network is the first payment transact...
Everyone must have heard of the phoenix eye patter...
How to read the love line on a man’s palm? The lo...
According to BTC.com data, the current Bitcoin ne...
You can know a woman's destiny by looking at ...
According to Coindesk, Japanese IT giant GMO Inte...
Author: Ye Zhen Source: Wall Street Journal South...