Investment funds under the high-profile US investment bank Morgan Stanley have reportedly raised their current Bitcoin exposure, via newly completed purchases of shares of Grayscale Bitcoin Trust.
Specifically revealed by the filings received by the US SEC on November 23rd, the Morgan Stanley Insight Fund has reportedly amped up their shares of Grayscale Bitcoin Trust (GBTC), for an over 63% amount, from 928,051 in Q2 this year, reaching up to 1,520,549 as of Sept. 30.
Furthermore, filings regarding the company’s Growth Portfolio reportedly disclosed that it is having in its possession 3,642,118 GBTC shares in the 3rd quarter of this year – a surge of 71% in comparison with 2,130,153 shares as of Q2.
The Morgan Stanley Global Opportunity Portfolio held 1,463,714 GBTC, a 59% increase from 919,805 shares in a matter of three months.
At the time of publication, the price of GBTC reportedly stands at $45.72, helping the investment bank’s exposure to Bitcoin (BTC) throughout the three funds has a value equivalent to approximately $303 million with 6,626,381 shares as of Sept. 30.
The BTC price was below $50,000 for the large part of September, but the crypto asset has since achieved an all-time high price of $69,000 before sliding back to the $56,000s.
The respective portfolios and funds reportedly offer Morgan Stanley the chance to generate exposure to Bitcoin (BTC), without making any direct investments into the cryptocurrency.
In September, the company’s Europe Opportunity Fund, which primarily makes investments in established and emerging firms across Europe, has reportedly experienced a two-fold surge for its shares of Grayscale Bitcoin Trust since April.
However, the fund has not reported additional BTC exposure at the time of publication.
Comments