Morgan Stanley Increases Bitcoin Exposure

A recent report from the United States Securities and Exchange Commission (SEC) has revealed an increase in the investment shares of Morgan Stanley Europe Opportunity Fund in Grayscale Bitcoin Trust (GBTC) to 58,116, representing more than double of what it held in April.

Available information shows that in the previous filings, the giant investment bank was holding a little over 28,000 GBTC, which was worth about $1.3 million at the time market price. This means that the American multinational investment bank and financial services company has increased its holdings in GBTC by over 105 percent since April.

The said Morgan Stanley Europe Opportunity Fund, invests in established and emerging companies in Europe. It aims at capital appreciation with its investment in the shares of undervalued companies that can become valuable in the future.

Back in April, the multinational company disclosed a plan to include the flagship crypto-asset exposure to 12 investment funds via Grayscale and cash-settled futures. Subsequent to that, it led a funding round for a Coinbase-backed tokenized platform, Securitize, marking its first dive into blockchain capital investment.

At the time of the filing, a GBTC share is priced at $34.28 meaning that the whole of Morgan Stanley’s investment in GBTC is worth $2.4 million.

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