Morgan Stanley, one of the largest banks in the USA, has made waves by announcing the management of a $190 million Bitcoin spot ETF! đ They've climbed into the top 5 institutions holding IBIT shares, the ETF giant from BlackRock. Not only that, but Morgan Stanley has significantly reduced its Grayscale holdings, now owning just $148K in GBTC stocks. đ„
Institutional investors in the US, like Morgan Stanley, are required to report substantial assets to the SEC quarterly, and this shift towards BlackRockâs IBIT product is turning heads. đ§ Even the Wisconsin state pension fund has followed suit, favoring IBIT over Grayscale.
In a bold move, Morgan Stanley has also empowered their investment advisors, known as "wire houses," to recommend Bitcoin spot ETFs, marking a significant step in the mainstream adoption of crypto. đ
