Major US bank Morgan Stanley has recently invested millions of dollars in Bitcoin via its various funds including a large amount in Grayscale Bitcoin Trust.
According to the documents submitted to the Securities and Exchange Commission on the 25th, multiple funds of Morgan Stanley held GBTC on June 30. The largest number of holdings were held in the investment fund “Morgan Stanley Insight Fund” with over 928,051 shares.
Apart from that, a portfolio named “Morgan Stanley Institutional Fund Inc.” held 619,363 GBTC shares. Other funds including “Morgan Stanley Variable Insurance Fund Inc.”, and the “Morgan Stanley Institutional Fund Trust” have all made investments in Bitcoin via GBTC shares.
It was revealed in June that the megabank’s “Europe Opportunity Fund” held over 28,000 shares.
The company’s holdings in the investment fund “Morgan Stanley Insight Fund” with over 928,051 shares amounting to $27,665,200.31 is the largest crypto investment made by Morgan Stanley.
However, the amount represents just 0.34% of the fund’s total assets held. The banks are currently allowed to allocate 25% of their funds in crypto investments. It was previously reported in March that Morgan Stanley would enable exposure of cryptocurrencies to its wealthy clients.