Morgan Stanley increases BTC visibility by purchasing 58,000 GBTC shares
Morgan Stanley increased its BTC visibility by purchasing 58,000 more GBTC shares as the company continues to accumulate BTC through its trust fund, according to the latest SEC filing.
Morgan Stanley is a global financial services giant that is continuing to increase its exposure to BTC through its Grayscale BTC trust fund.
Morgan Stanley increased its exposure to Bitcoin as the financial services firm held 928,051 Grayscale Bitcoin trust shares. Recent filings with the U.S. SEC reveal that they purchased an additional 58,116 GBTC shares on July 31NS.
The data showed that the stock was worth around $ 34.5 apiece at the time, which meant the company was more or less valuable even with the latest investment. It should also be noted that this comes a day after Dennis Lynch, head of Counterpoint Global at Morgan Stanley’s Investment Management, said that bitcoin was not fragile. The official believes the asset can withstand the market turmoil and continue to provide momentum when others fail. He even drew a comparison between BTC and a South Park-Kenny TV personality:
“I’d say Bitcoin is like Kenny from South Park, you know, he dies every episode and comes back. Having one little thing where things can go well but also knowing that some things can go wrong isn’t unreasonable when you have a world full of such glitches all the time and these upside down scenarios in such a way end on a large scale. ”
As recently reported, SEC filings show that more than 30 Morgan Stanley funds hold huge amounts of GBTC stock, and the largest fund appears to be Morgan Stanley’s Insight Fund with over 928,051 worth about $ 36 million or more than to be 700 BTC. The Morgan Stanley Institutional Fund, Institutional Trusts, Variable Insurance Funds, and others also appear to have larger amounts. Return on June 28thNSIn 2021, when BTC was still trading at the low of $ 30,000, when Morgan Stanley announced its massive position in GBTC through the European Opportunity Fund.
A few months ago, the banking giant became the first U.S.-based financial institution to offer its customers an account of BTC funds, and with over $ 4 trillion in assets under management, the bank has doubled in the industry as it does now is. In addition to the massive position of the Grayscale Bitcoin Trust, Morgan Stanley is also investing in crypto-based companies as it adds BTC through 12 investment vehicles.
DC Forecasts is a leader in many crypto news categories, always striving for the highest journalistic standards and adhering to strict editorial guidelines. If you would like to share your expertise or contribute to our news page, please contact us at [email protected]
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Bitcoin
Morgan Stanley increases BTC visibility by purchasing 58,000 GBTC shares
Morgan Stanley increased its BTC visibility by purchasing 58,000 more GBTC shares as the company continues to accumulate BTC through its trust fund, according to the latest SEC filing.
Morgan Stanley is a global financial services giant that is continuing to increase its exposure to BTC through its Grayscale BTC trust fund.
Morgan Stanley increased its exposure to Bitcoin as the financial services firm held 928,051 Grayscale Bitcoin trust shares. Recent filings with the U.S. SEC reveal that they purchased an additional 58,116 GBTC shares on July 31NS.
The data showed that the stock was worth around $ 34.5 apiece at the time, which meant the company was more or less valuable even with the latest investment. It should also be noted that this comes a day after Dennis Lynch, head of Counterpoint Global at Morgan Stanley’s Investment Management, said that bitcoin was not fragile. The official believes the asset can withstand the market turmoil and continue to provide momentum when others fail. He even drew a comparison between BTC and a South Park-Kenny TV personality:
“I’d say Bitcoin is like Kenny from South Park, you know, he dies every episode and comes back. Having one little thing where things can go well but also knowing that some things can go wrong isn’t unreasonable when you have a world full of such glitches all the time and these upside down scenarios in such a way end on a large scale. ”
As recently reported, SEC filings show that more than 30 Morgan Stanley funds hold huge amounts of GBTC stock, and the largest fund appears to be Morgan Stanley’s Insight Fund with over 928,051 worth about $ 36 million or more than to be 700 BTC. The Morgan Stanley Institutional Fund, Institutional Trusts, Variable Insurance Funds, and others also appear to have larger amounts. Return on June 28thNSIn 2021, when BTC was still trading at the low of $ 30,000, when Morgan Stanley announced its massive position in GBTC through the European Opportunity Fund.
A few months ago, the banking giant became the first U.S.-based financial institution to offer its customers an account of BTC funds, and with over $ 4 trillion in assets under management, the bank has doubled in the industry as it does now is. In addition to the massive position of the Grayscale Bitcoin Trust, Morgan Stanley is also investing in crypto-based companies as it adds BTC through 12 investment vehicles.
DC Forecasts is a leader in many crypto news categories, always striving for the highest journalistic standards and adhering to strict editorial guidelines. If you would like to share your expertise or contribute to our news page, please contact us at [email protected]
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