Morgan Stanley is expanding its new cryptocurrency research team with Sheena Shah, the foreign currency strategist. According to Bloomberg, Shah will help the New York-based bank with researches on cryptocurrencies' impact not only on equities, but also fixed income worldwide.
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"The launch of dedicated crypto research is in recognition of the growing significance of crypto currencies and other digital assets in global markets," the bank's executives David Adelman, Juliet Estridge and Vishy Tirupattur said in the announcement.
Prior to this role, Shah spent over eight years as a currency strategist lead for Europe. The appointment comes after Morgan Stanley increased its stake in the Grayscale Bitcoin Trust (GBTC) through several funds available to its clients.
According to documents filed with the US Securities and Exchange Commission, the largest investments have been made by the Morgan Stanley Insight Fund, which acquired 928,051 GBTC shares valued at $27,665,000, equivalent to 0.34% of its assets under management.
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