top of page

Morgan Stanley invests in Bitcoin through Grayscale

The multinational investment bank Morgan Stanley has acquired more than 28,000 shares of Grayscale Bitcoin Trust (GBTC)

Morgan Stanley acquires 28,000 shares of Grayscale Bitcoin Trust (GBTC)
Morgan Stanley invests in Bitcoin through Grayscale Bitcoin Trust (GBTC)

In Short

  • Grayscale Bitcoin Trust share acquisition equals $1,325,339.

  • Morgan Stanley is still trying to set up a bitcoin ETF with the SEC.

According to the company's filing with the U.S. Securities and Exchange Commission (SEC) on June 28. Now, the exposure of the bank to bitcoin is official. The Morgan Stanley Europe Opportunity Fund Inc. made the acquisition. As of April 30, 2021, an estimated $1,325,339, according to the document, which the U.S. government agency published. At present, each share is worth $29.25, according to Grayscale's official website, so the amount invested would be around $827,453.

According to its official site, Grayscale fund manages a total of 1.8 billion euros, so this exposure to cryptocurrency represents a low percentage of its investment portfolio. This trust belongs to the cryptocurrency investment company Grayscale and allows various institutions to invest with almost direct exposure to bitcoin (BTC) but organized as securities.

The Morgan Stanley Europe Opportunity Fund Inc. fund is the eponymous U.S. bank whose purpose is to invest in European companies and other assets. Morgan Stanley had already initiated SEC clearance requests for 12 of its funds to be exposed to bitcoin.

Finally, according to a form filed in that same month, the firm would have decided to move forward with the named fund in Europe and Insight Fund, among others. Each can invest up to 25% of its total assets in bitcoin-related products.

Morgan Stanley pushes for greater bitcoin adoption.

Morgan Stanley recommends other similar firms offer cryptocurrency-related products to their clients. It will be increasingly necessary to meet the growing demand from institutional investors in the bank's view.

Meanwhile, the bank continues to try to get the SEC authorization to create a bitcoin exchange-traded fund (ETF) in the United States. Two months ago, it was listed as an approved participant in an ETF application by New York Digital Investment Group (NYDIG). NYDIG is also one of the cryptocurrency companies in which Morgan Stanley has invested.

Bitcoin conquers Wall Street.

Satoshi Nakamoto's creation is popularized in the big U.S. banks, evidencing how Bitcoin conquers Wall Street. Despite being quoted at the time of writing at around $32,000, Bitcoin is a phenomenon in a straightforward process of expansion and development. Thus, as evidenced in the "Documenting Bitcoin" s tweet, more and more large firms are offering financial services with the crypto-asset, an element that shows how Bitcoin is conquering Wall Street.

Bitcoin intrudes into the financial world.

Bitcoin has gained popularity among the most renowned banks in the United States. It is worth remembering that Morgan Stanley presented itself as the first significant institution within the American power to adopt the crypto-asset as the center of some of its financial products during March.

Likewise, others such as Citigroup seem to understand the great potential that cryptocurrency holds. Thus, although they do not currently offer any service in Bitcoins, the entity appears to be preparing to join the list of financial corporations that will provide the crypto asset with its much-needed institutional support. Other big names such as Deutsche Bank and UBS have also shown their interest in being part of the crypto-trend.

  • Facebook
  • Instagram
  • TikTok
  • Twitter
  • LinkedIn
bottom of page