Morgan Stanley investments funds have acquired over 6.5 million shares in Grayscale Bitcoin Trust (GBTC) in a move that comes as other large financial institutions eye ways to give their clients exposure to the cryptocurrency space.
According to SEC filings, spotted by Decrypt, from the company, Morgan Stanley invested in GBTC across more than a dozen funds. Its largest holder of the Bitcoin-focused fund is now its Growth Portfolio, which has 2.3 million shares.
Other funds include the Morgan Stanley Insight Fund, an equity growth fund that manages $8 billion in assets and picked up over 900,000 shares in GBTC worth $27.6 million, and the bank’s Discovery Portfolio bought around 600,000 shares. Its VIF Growth Portfolio holds 130,000 shares.