SEC Filings Shows Morgan Stanley Adding More Bitcoins Into Funds

OVERVIEW

  • Morgan Stanley has stated that the Grayscale Bitcoin Trust added Bitcoin exposure to certain of its funds in Q3.
  • Morgan Stanley’s Growth Portfolio Fund added 1.5 million shares of the Grayscale Bitcoin Trust.
  • The remarks imply a new receptivity to crypto assets.

Morgan Stanley has disclosed that some of its funds gained Bitcoin exposure in Q3 according to fresh filings with the US Securities and Exchange Commission (SEC).

Morgan Stanley’s Growth Portfolio Fund, for instance, added 1.5 million shares of the Grayscale Bitcoin Trust. The period ending with September 30.

Similarly, over the same time period, its Insight Fund added roughly 600,000 shares.

Other Morgan Stanley funds have also increased their exposure to Bitcoin. Thus, indicates that fund managers at Morgan Stanley are getting more comfortable with including Bitcoin in their portfolios.

Macroscope, a Twitter account, was the first to bring attention to the SEC filings.

Here are the series of Tweets posted by Macroscope with details.

A NEW RECEPTIVITY TO CRYPTO ASSETS

The announcements come at a time when Morgan Stanley CEO James Gorman has become increasingly vocal about Bitcoin and other crypto assets. He declared on October that “crypto is not a fad.”

The remarks imply a new receptivity to crypto assets. but they also show that Gorman is uninformed about how Bitcoin alone may provide a decentralised alternative to today’s government-controlled financial institutions.

The Grayscale Bitcoin Trust, which has been traded on the OTCQX market since 2013, offers institutional and high-net-worth investors to obtain exposure to Bitcoin, with a 12-month holding term.

The filing is especially noteworthy since, according to Barron’s, the GBTC offering has been suffering recently.

Bitcoin has outperformed the fund so far in 2021, according to the research, at a time when new Bitcoin futures ETFs have become available to institutional investors.

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