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Morgan Stanley Fund Increases Stake in Grayscale Bitcoin Trust

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Mon, 09/27/2021 - 15:58
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Alex Dovbnya
Morgan Stanley Europe Opportunity Fund has reported owning $2 million worth of GBTC shares
Morgan Stanley Fund Increases Stake in Grayscale Bitcoin Trust
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Morgan Stanley Europe Opportunity Fund has reported owning 58,116 shares of Grayscale Bitcoin Trust in its recent regulatory filing.

The total dollar value of its GBTC stake was $2.018 million as of July 31.

As reported by U.Today, the banking giant's Europe Opportunity Fund, which boasts a total of $371 million in assets, revealed that it had bought 28,289 GBTC shares in late June.

Morgan Stanley became the second-largest investor in Grayscale Bitcoin Trust in late August, with Cathie Wood's ARK Invest remaining in first place.

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Its various institutional funds hold approximately 6.5 million GBTC shares.

In February, Morgan Stanley made it possible for its deep-pocketed clients to invest in Bitcoin.

The bank allowed its institutional funds to gain exposure to Bitcoin back in April.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.