We are proud to be part of BitColors ecosystem, a unique collection of 1000 NFT colors that you can own and trade on OpenSea. BitColors aims to create something unique in the NFT space and set an example for a new wave of collections like CryptoPunks did for avatars. Colors for our logo we took from the BitColors collection. Ownership of colors should be remarkable and unprecedented and you have a chance to buy it now. Want to follow their updates? Then subscribe to BtColors Twitter, and Discord.
Morgan Stanley owns millions of Grayscale Bitcoin Trust shares
Crypto News

Morgan Stanley owns millions of Grayscale Bitcoin Trust shares

Saudu Clement
Saudu Clement

According to a recent filing with the United States Securities and Exchange Commission (SEC), investment banking giant Morgan Stanley holds over a million shares of the Grayscale Bitcoin Trust (GBTC).

Over 30 Morgan Stanley funds hold large amounts of GBTC shares as indicated by the SEC files. Morgan’s Insight Fund, which is the biggest of them all, owns over 928,051 shares worth around $36 million, the equivalent of over 760 Bitcoin at current market prices.

Other funds under the company, including the Morgan Stanley Institutional Fund Inc., the Morgan Stanley Institutional Trust, and the Morgan Stanley Variable Insurance Fund seem to hold large amounts as well.

Back in June, when Bitcoin traded at the $30,000 region, Morgan Stanley disclosed a big position on the GBTC via its Europe Opportunity Fund.

Pseudonym market analyst MacroScope predicted that the bank would disclose exposition to Bitcoin via an investment product.

Morgan Stanley became the first U.S.-based financial institution to offer its clients Bitcoin exposure. Since then, the bank has doubled down on the crypto industry in a bid to consolidate its assets under management (AUM), which stands at over $4trillion.

Apart from Grayscale’s Bitcoin product, Morgan Stanley has also invested in other crypto-based companies. It added more Bitcoin to its balance sheet via 12 investment vehicles in April.