Morgan Stanley bets big on Bitcoin

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US multinational investment bank Morgan Stanley has announced the acquisition of approximately 30,000 shares in the Grayscale Bitcoin Trust investment vehicle.

The move was made by the Morgan Stanley Europe Opportunity Fund, an investment arm specializing in emerging and established companies valued below the market rate. The investment makes Morgan Stanley the second largest shareholder in Grayscale, behind Cathie Wood’s ARK Investment Management.

The announcement was made during the publication on September 27 of the bank’s regulatory documents. Earlier June filings indicate that its investment increased by more than 30,000 shares in one quarter.

Grayscale Bitcoin Trust, a leading digital currency investment institution, holds over $ 30 billion worth of Bitcoin. It was announced earlier this year that the Trust intends to create its own Bitcoin Exchange Traded Fund.

This is a significant step up from the post Morgan Stanley only held at the start of the year. In March, the bank issued a note to clients warning them of the dangers of investing in cryptocurrencies and advising them to exercise caution.

Since that point, however, MS has increased its exposure for the first time in June to around $ 800,000 of investment. Since then, he’s acquired even more shares, reaching a value somewhere in the region of $ 2.4 million.

It was also a hugely successful year for Grayscale, whose value soared thanks to the Ethereum rally created by NFT. In early September, it was reported that Grayscale’s value had eclipsed Bahrain’s.

In Morgan Stanley’s various institutional funds, this brings its total stake in Grayscale to around 6.5 million.

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