Morgan Stanley Buys Over 28,000 Shares of Grayscale Bitcoin Trust

Megabank Morgan Stanley has acquired 28,289 shares of Grayscale Bitcoin Trust through its Europe Opportunity Fund, according to one SEC filing.

Grayscale is owned by CoinDesk’s parent company, Digital Currency Group.

Morgan Stanley has been increasingly active in the cryptocurrency space in recent months to meet growing customer demand. In April, the company allowed a handful of its funds to invest in indirectly Bitcoin through cash settled futures contracts and Grayscales Bitcoin Trust, including the Institutional Fund, Institutional Fund Trust, Insight Fund, and Variable Insurance Fund.

Connected: Market Wrap: Cryptocurrencies Rise Despite Binance UK Warning

Each fund can invest up to 25% of its assets in Bitcoin, according to previous SEC filings. The Europe Opportunity Fund comprises a mix of Europe-based companies in technology, non-technology and other investments.

In March, Morgan Stanley debuted Bitcoin mutual fund products for wealthy clients and started recruiting a lead analyst for cryptocurrencies and blockchain.

similar posts

Comments are closed.