Morgan Stanley Bought Over 28,000 Shares of the GBTC

by in Cryptocurrency News

Morgan Stanley GBTC

New York-headquartered international bank Morgan Stanley acquired 28,289 shares of Grayscale Bitcoin Trust via its Europe Opportunity Fund. The recent filing with the SEC shows that the deal took place in April. The Fund's objective is to get the highest amount of income by investing in assets that the team finds are depreciated at the time of trading.

Related: Morgan Stanley Offers Wealthier Clients Access to BTC Funds

At a present GBTC price of $29.68, Morgan Stanley’s exposure is worth nearly $840,000.

In April, Morgan Stanley added Bitcoin exposure to 12 investment funds via Grayscale and cash-settled futures. Earlier, in March, the establishment allowed wealthier customers access to BTC investment funds.

Grayscale is the leading crypto asset manager. According to the June 28 update, the company's AUM is $30.1 billion. Presently, Grayscale holds Trusts for 13 cryptocurrencies.

The largest is Bitcoin's share, about $22.3 B. In April, the company filed a paper with the US SEC to turn GBTC into an ETF.