As Bitcoin and other cryptos get more credence, numerous leading shots in varied markets welcome the crypto community.
Many companies, including Tesla, had accepted BTC payments once, and even a country like El Salvador is now using it as a legal tender. So, it’s not unexpected that Morgan Stanly, a substantial American Investment bank, will purchase shares of a Bitcoin Trust.
In a recent development, the bank acquired 58,000 shares of Grayscale Bitcoin Trust. It had actually formerly owned some shares of the Trust, consisting of the 28,289 shares purchased previously in 2021. This latest addition has increased the number of shares that the bank holds across many portfolios.
The financial investment bank revealed this most current purchase through an SEC filing revealing that it purchased the shares on July 31, 2021. At the time of writing, the price of Grayscale BTC Trust stands at $32.55. The bank “Insight Fund” holds 928,051 shares which portrays a $31.7 million worth of shares for among Morgan Stanley’s portfolios.
The bank’s announcement in April 2021 has added Bitcoin assets to at least 12 of its funds through the Grayscale BTC Trust plus Cash-settled Futures. The built up figure reveals 6.5 million GBTC shares.
Companies Holding Grayscale’s Bitcoin Trust
Apart from Morgan Stanley, another investment bank pushing into BTC exposure is JP Morgan. It is the second-largest GBTC investor, while Cathie Woods Ark Investment stays in the very first position to date.
The firm disclosed in July that it had added over 450,000 GBTC shares in two purchases. Many others with GBTC shares consist of Goldman Sachs, JP Morgan, and BlackRock.
