Morgan Stanley Bets BIg on Crypto with $270 Million GBTC Stake
- Financial giant Morgan Stanley’s investment through GBTC positions the bank as a major holder of Bitcoin.
- Leading global banks, including JPMorgan Chase, Wells Fargo, and UBS, have also reported holdings in Bitcoin ETFs.
- This growing acceptance suggests that cryptocurrencies are being viewed as a potential asset class by major financial institutions.
In a sign of growing mainstream adoption, financial giant Morgan Stanley revealed a hefty $269.9 million investment in Bitcoin through Grayscale’s GBTC trust, as disclosed in its first-quarter 13F filing. And as per CNBC, This positions the bank as a major holder of GBTC, trailing only Susquehanna International Group’s $1 billion stake.
Morgan Stanley’s move reflects a broader trend among leading global banks. The Royal Bank of Canada, JPMorgan Chase, Wells Fargo, BNP Paribas, and UBS have all disclosed similar investments in Bitcoin ETFs, underscoring institutional warming to the cryptocurrency.
The trend extends beyond traditional banks. Recent filings show significant exposure to Bitcoin ETFs by prominent investment firms. New York-based Pine Ridge Advisers holds a $205.8 million portfolio, including stak…
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