Morgan Stanley Invests In Bitcoin Exchange Traded Funds (Etfs).
- Posted on May 17, 2024 2:00 AM
- Cryipto News
- 249 Views
One of America's leading financial institutions, Morgan Stanley, disclosed the amount of its Bitcoin ETF investments in its latest quarterly report submitted to the SEC. According to the documents, Morgan Stanley has made a $270 million investment in spot BTC funds. According to Fintel data, the investment bank's portfolio includes only the Grayscale Bitcoin Trust (GBTC) fund, making Morgan Stanley the second-largest shareholder of this fund.
The institution that has invested the most in GBTC is Susquehanna International Group, with $1 billion.
The interest of institutional investors in Bitcoin is not a first in the financial sector, as JPMorgan Chase, Wells Fargo, BNP Paribas, Royal Bank of Canada, and UBS, among others, have also invested in BTC funds.
Furthermore, hedge funds are also adding spot Bitcoin ETFs to their portfolios. New York-based Boothbay Fund Management invested a total of $377 million, distributing these investments among IBIT, FBTC, GBTC, and BITB funds.
Bitwise CEO Matt Hougan estimates that institutional investors have made a total of $5 billion in Bitcoin ETF investments in recent times. According to Hougan, the main investor base in crypto funds still consists of individual investors.
You can follow the latest developments and news in the cryptocurrency markets in real-time at Kriptospot.com.