Financial conglomerate Morgan Stanley has been strengthening its position in the Grayscale Bitcoin Trust (GBTC) between July and September through funds available to its clients.
The largest investment has been made by the Morgan Stanley Growth Portfolio, which has acquired 1,511,965 GBTC shares (it now owns 3,642,118 GBTC shares), according to data from the US Securities and Exchange Commission. (SEC). Its valuation amounts to $192,829,700, which corresponds to 0.52% of its assets under management.
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Two other funds, the Morgan Stanley Insight Fund and the Morgan Stanley Global Opportunity Portfolio, have increased their investments in GBTC from 928,051 to 1,520,549 shares and from 919,805 to 1,463,714 shares, respectively.
The investment bank has previously banned its wealth management division employees from offering the Bitcoin futures ETF launched by ProShares to their clients.