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Morgan Stanley Funds Adding to Bitcoin Exposure, SEC Filings Show

Banking giant Morgan Stanley has revealed some of its funds added exposure in Q3 through the Grayscale Bitcoin Trust (GBTC).

In new filings with the U.S. Securities and Exchange Commission (SEC), banking giant Morgan Stanley has revealed some of its funds added exposure in Q3.

For the period ending September 30, Morgan Stanley’s Growth Portfolio Fund, for example, added 1.5 million shares of the Grayscale Trust (GBTC). Similarly, its Insight Fund added nearly 600,000 shares over the period.

Other Morgan Stanely funds added exposure as well, suggesting that Morgan Stanley fund managers are becoming more comfortable adding to their portfolios.

The SEC filings were first highlighted by the Twitter account Macroscope.

The releases come at a time when Morgan Stanley CEO James Gorman has been more outspoken about and other crypto investments, stating in October that he didn’t think that “crypto is a fad.”

The comments suggest a new openness to crypto assets, though they demonstrate that Gorman is far from educated on how alone provides the foundation for a decentralized alternative to today’s government-controlled financial systems.

Traded on the OTCQX market since 2013, the Grayscale Trust allows institutional and high net-worth investors to gain exposure to Bitcoin, though there is a holding period of 12 months for the shares.

The filing is also notable, as per Barron’s, the GBTC offering is struggling of late. As noted by the report, has outperformed the fund so far in 2021 at a time when GBTC has faced competition from new Bitcoin futures ETFs now available to institutional investors. 

Banking giant Morgan Stanley has revealed some of its funds added exposure in Q3 through the Grayscale Bitcoin Trust (GBTC).

Source : Magazine: Bitcoin News, Articles, Charts, and Guides Read More

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