๐ Big news, folks! Morgan Stanley, the 6th largest US bank, has just invested a whopping $269M in a Bitcoin ETF, specifically Grayscale's GBTC. ๐
- This positions Morgan Stanley as one of the largest GBTC holders, hot on the heels of Susquehanna International Group's $1.0B investment.
- Other big-name banks like JP Morgan Chase, Wells Fargo, and UBS are also dipping their toes in Bitcoin ETFs.
This trend is a big deal! Bitwise CIO Matt Hougan likens it to the launch of gold ETFs in 2004, which was a huge success. ๐ฐ
- About 700 professional firms have invested nearly $5B in Bitcoin ETFs by the May 15 deadline.
- Retail investments still make up a big chunk of the funds in Bitcoin ETFs, with total AUM around $50B.
Other firms are also joining the party! ๐
- Pine Ridge Advisers, Aristeia Capital, Graham Capital Management, and more have disclosed hefty investments in Bitcoin ETFs.
What do you think about this surge in institutional interest in Bitcoin ETFs? Let's chat in the comments! ๐ฌ #BitcoinETF #MorganStanley #CryptoInvestments