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Morgan Stanley Discloses $270 Million Investment in Spot Bitcoin ETFs

Morgan Stanley Discloses $270 Million Investment in Spot Bitcoin ETFs

May 17, 2024

Morgan Stanley Discloses $270 Million Investment in Spot Bitcoin ETFs

Morgan Stanley, a leading Wall Street firm with $1.5 trillion in assets under management (AUM), has reported a substantial investment in spot Bitcoin Exchange-Traded Funds (ETFs). Recent filings with the Securities and Exchange Commission (SEC) indicate that the financial giant held approximately $270 million worth of Grayscale’s Bitcoin Trust (GBTC) as of March 31.

The disclosure was part of the latest 13F SEC filings, which provide insight into the holdings of institutional investors managing over $100 million. Since the SEC's approval of several spot Bitcoin ETFs earlier this year, the market has been closely watching for investment trends from major players. Alongside Morgan Stanley, other prominent institutions like the State of Wisconsin Investment Board, Wells Fargo, and JPMorgan have also been reported to allocate funds to Bitcoin via spot ETFs.

Morgan Stanley's $269.9 million investment positions the firm as one of the most significant institutional holders of GBTC, second only to Susquehanna's $1.8 billion stake. The move reflects a broader trend among traditional financial institutions, which, despite some like Vanguard expressing opposition, are increasingly embracing Bitcoin exposure in response to client demand for Bitcoin's growth potential as an inflation hedge and an alternative asset class.

The bank's significant GBTC holdings, revealed in the 13F filing, were likely made on behalf of its wealth management clients or as part of market making and ETF authorized participant duties. After allowing its clients access to spot Bitcoin ETF allocations on an unsolicited basis post their approval in January, Morgan Stanley has followed through with a substantial purchase.

SEC Filing

Bitcoin Magazine Article


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