Mutual funds of the large US investment bank Morgan Stanley increased their presence in bitcoin by buying shares in the Grayscale Bitcoin Trust.

The Morgan Stanley Insight Fund increased its holdings in the Grayscale Bitcoin Trust, or GBTC, by more than 63%, from 928,051 in the second quarter of 2021 to 1,520,549 since September, according to a US Securities and Exchange Commission filing on Tuesday. 30. Additionally, records in the company’s growth portfolio show that it held 3,642,118 shares of GBTC in the third quarter of 2021, an increase of 71% from 2,130,153 shares in the second quarter. Morgan Stanley’s global opportunity portfolio contained 1,463,714 GBTC, up 59% from 919,805 shares in three months.

At press time, GBTC is priced at $45.72, bringing the Bitcoin (BTC) investment bank in these three funds to nearly $303 million with 6,626,381 shares as of September 30. The price of BTC was below $50,000 for most of September, but the crypto asset has since reached an all-time high of $69,000 before dropping to $56,000.

Morgan Stanley’s matching wallets and funds allow access to Bitcoin (BTC) without investing directly in the cryptocurrency. Cointelegraph reported in September that the company’s European Opportunity Fund, which invests in established and emerging companies across Europe, has doubled its investment in the Grayscale Bitcoin Trust since April. However, at the time of publication, the fund has not reported any additional transactions with BTC.

Related Topics: Grayscale Offers Plans to Convert Bitcoin Trust to ETF Using BTC Accounts

Whether you are investing indirectly through Grayscale or backing blockchain platforms, Morgan Stanley seems to be diving deeper and deeper into the crypto space. In September, the company announced that it would create a research division focused on cryptocurrencies with the aim of studying the “growing importance of cryptocurrencies and other digital assets in global markets.”

Source: CoinTelegraph

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