Wall Street Giant Morgan Stanley Bets Big On Bitcoin ETF: $272 Million Revealed
The post Wall Street Giant Morgan Stanley Bets Big On Bitcoin ETF: $272 Million Revealed appeared on BitcoinEthereumNews.com.
Last January 10th, 2024, the US Securities and Exchange Commission finally approved the Bitcoin ETF applications of 11 funds, including Fidelity, Grayscale, and Blackrock’s IBIT. Within a month, trading volume increased as more banks, funds, and individual traders got a share. One market participant that’s slowly boosting its holdings is Morgan Stanley. In its recent 13F-HR/A filing with the SEC, Morgan Stanley declared $272 million worth of Bitcoin ETFs at the end of the third quarter. Although this seems like a sizeable investment, it only accounts for 2% of the total assets in management, now valued at $1.3 trillion. Massive news! 🚨 Morgan Stanley, a $1.3 trillion asset manager, just disclosed $272 million in Bitcoin ETF holdings. This is a clear sign that institutional adoption is accelerating. As more major players like Morgan Stanley continue buying into Bitcoin, it’s creating… https://t.co/bkCt59bSrD — Jimie (@Your_NLP_Coach) October 18, 2024 Morgan Stanley’s BTC Holdings Spread Over Blackrock, Ark21, Grayscale Funds Morgan Stanley keeps its holdings in different baskets like a seasoned trader and investor. Many of its holdings are with Blackrock’s iShare Bitcoin Trust (IBIT). Management reported that it now owns 5.5 million shares of the BTC ETF, which it bought in the second quarter. Morgan Stanley’s holdings with Blackrock were worth $187.7 million at the time of the transaction but are now worth $209 million, or an increase of 10.2%. The company also shared that it holds a sizable holding with Ark 21 Shares but has reduced its holdings with Grayscale. Initially, Morgan Stanley boasted holdings worth $270 million, but they’re now down to $148,000. BTCUSD trading at $68,393 on the daily chart: TradingView.com Morgan Stanley And Its Crypto-Friendly Strategy Morgan Stanley is one of the top asset managers with a Bitcoin and crypto-friendly strategy. Although the company was late in investing…
Filed under: News - @ October 20, 2024 3:02 am