Morgan Stanley increases exposure to digital assets

After the previous hostility towards Bitcoin and other crypto-assets, Morgan Stanley, a leading investment bank, increased its exposure to digital assets in recent filings with the Securities and Exchange Commission. (SEC), in a 27 September.

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Morgan Stanley Europe Opportunity Fund Buys More GBTC Shares

According to the filing, the multinational bank has purchased more shares in Grayscale Bitcoin Trust (GBTC), Which doubled his holdings by more than 105%, since the last purchase in April.

The filing revealed that the fund Morgan Stanley Europe Opportunity Fund, one of the company's funds famous for investing in startups in Europe, revealed that he now owns more than 58 thousand my share GBTC, From 31 July.

It is worth noting that the price GBTC It was exchanged for 34.28 dollars at that time, which means that the bank has spent about 2 million Dollars on his new purchases from Bitcoin.

More than 1 Million Shares... Owned by Morgan Stanley in Grayscale Bitcoin Trust

also bought Morgan Stanley Earlier 28.298 arrow of GBTC His first exposure to this industry. Then the value of the shares 1.3 one billion dollar.

It is reported that the bank has revealed its intention to add exposure Bitcoin to me 12 From its mutual funds, through grayscale futures and cash-settled futures contracts.

One such fund is the European Opportunity Fund, which looks to invest in companies “Established and Emerging” headquartered in Europe, which can be described as “Undervalued”. In this way, the fund looks to maximize profits by investing in these companies.

According to a previous report from Cryptoslate, owns another bank fund is Insight Fund 928.051 arrow of GBTC, which means that he has exposure of up to 870 unit of Bitcoin BTC, worth 36.1 million dollars of shares GBTC.

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While the bank also sought, apart from investing in GBTC, to expand his crypto business, which led him to lead an investment round worth 48 million dollars in Securitize, a coding company blockchain enjoy support Coinbase.