Morgan Stanley Invests in Bitcoins

Morgan Stanley is the largest US financial company providing services in mergers and acquisitions, share and bond placements, trading on stock and other exchanges, and asset control and management.

Financial giant Morgan Stanley has made a major investment in the Grayscale product, the Grayscale Bitcoin Trust (GBTC) digital currency. GBTC is an investment vehicle that provides investors with the ability to purchase and trade bitcoins without owning the underlying cryptocurrency. It is the first publicly listed Bitcoin investment vehicle on OTCQX and has been reported to the SEC since January 2020.

According to SEC reports, this investment round of Morgan Stanley was conducted prior to the reporting period on June 30, through four different funds. Insight Fund, Morgan Stanley Investment Fund, Morgan Stanley Trust Fund, and Morgan Stanley Variable Insurance Fund. In total, 6,491,686 GBTC shares were purchased through the funds for $ 253.17 million, at a Bitcoin exchange rate of approximately $ 30,000.

This massive investment by Morgan Stanley through the acquisition of GBTC coincided with the desire of large banks to integrate cryptocurrency before the end of this year. Financial giant Citigroup, one of the US Big Four banks, is also working to ensure that institutional clients can use its bitcoin futures products, according to leaked information.
 

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Coin Shark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.