Morgan Stanley invested USD $270 million in Grayscale’s Bitcoin ETF – DiarioBitcoin
By Hannah Perez
Another high-profile bank on Wall Street that owns shares of U.S. spot Bitcoin ETFs joins JPMorgan, Wells Fargo, BNY Mellon, among others.
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- Morgan Stanley joins the list of large banks investing in spot Bitcoin ETFs
- The Wall Street bank has a million-dollar position in Grayscale’s converted ETF, GBTC.
- JPMorgan, Wells Fargo, BNY Mellon and an estimated 700 professional investors are on the list
Wall Street banks continue to show their appetite for equity exchange-traded funds (ETFs). Bitcoin cash.
Morgan Stanleythe New York-based financial multinational, has joined the growing list of high-profile institutions that are actively investing in ETFs based on Bitcoin cash in the US
Regulatory filings with the US Securities and Exchange Commission (SEC), reveal that Morgan Stanley bought about $270 million worth of shares in the converted ETF GrayscaleGBTC.
The investment was made in the first quarter of the year, a recently published 13-F form showed, and converts to Morgan Stanley into one of the largest institutional holders of GBTC.
The bank thus joins other renowned entities such as JPMorgan Chase, Wells Fargo, BNP Paribas, Bank of Montreal and UBSwhich also have holdings in the ETFs of Bitcoin spot, a type of product that gives investors direct exposure to the largest and oldest cryptocurrency without the need to personally purchase or hold it.
Professional investors dive into ETFs Bitcoin
The chief investment officer of the cryptocurrency management company BitwiseMatt Hougan has estimated that nearly 700 professional firms have invested $5 billion in ETFs. Bitcoin cash in the US
“This scale of ownership is off the charts for a new ETF. Most ETFs Attract Very Few 13F Filers in Their First Months on the MarketHougan wrote. “From a broad ownership perspective, Bitcoin ETFs are a historic success“.
Eric Balchunas, the ETF analyst at Bloombergis another that has expressed surprise before the enormous number of large-scale investors in ETFs Bitcoin that have been revealed in the latest SEC 13-F filings.
A great list Professional investors own the new breed of ETFs, including the US state of Wisconsin, hedge funds and even the firm linked to the Rothschild family. The investment management company Millennium Management It has positioned itself as the largest investor, with a position of almost USD $2 billion.
As to Morgan Stanleythe US bank had already revealed in a previous regulatory disclosure that it would open the door to ETFs Bitcoin for one of its investment funds. Likewise, previous reports indicated that it would be exploring the possibility of allowing its 15,000 brokers to recommend that clients buy the ETFs. Bitcoin.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
