American investment banking company, Morgan Stanley, has bought 28,289 shares of Grayscale Bitcoin Trust (GBTC) according to US Securities Exchange Commission (SEC) filings.
Morgan Stanley currently manages over $2.3 trillion in assets in 42 countries. Two months ago, Morgan Stanley said that some of its funds could indirectly invest up to 25% of their individual total assets under management in Bitcoin. The investments would be settled through Grayscale’s Bitcoin Trust and cash-settled futures contracts.
The acquisition increases Morgan Stanley’s investment in the cryptocurrency market. Main driver for the banking giant to enter the crypto market is the demand from customers. In March, 2021, Morgan Stanley became the first international bank in the US to offer its clients access to bitcoin investments.