Morgan Stanley Bets $272 Million on Bitcoin ETF
The US Securities and Exchange Commission accepted 11 Bitcoin ETF applications, including Fidelity, Grayscale, and Blackrock's IBIT, on January 10, 2024. Banks, funds, and traders gained shares within a month, increasing trading volume. Morgan Stanley is progressively increasing its interests.
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Morgan Stanley reported $272 million in Bitcoin ETFs at the end of the third quarter in its 13F-HR/A filing with the SEC. This investment appears large, yet it only amounts for 2% of the $1.3 trillion in assets under administration.
As an experienced trader and investor, Morgan Stanley diversifies its assets. It has several Blackrock iShare Bitcoin Trust shares. Management purchased 5.5 million BTC ETF shares in the second quarter. Morgan Stanley's Blackrock holdings rose 10.2% to $209 million from $187.7 million at the time of the transaction.
The corporation also has a large Ark 21 Shares ownership but has cut its Grayscale holdings. Morgan Stanley had $270 million in holdings, now $148,000.
One of the leading asset managers investing in Bitcoin and crypto is Morgan Stanley. The corporation was late to participate in Bitcoin ETFs but became one of the largest US holdings.
In August 2024, the corporation offered its managers permission to provide Bitcoin ETFs to rich consumers. Given its massive asset base, this was a big step for the corporation. A manager allocating 1% of the company's assets to Bitcoin ETFs will generate $130 billion.
SEC approval of spot ETFs changed the industry. According to expert Kripto Mevsimi, Bitcoin is already a mature asset and becoming part of the financial sector.
With outstanding net flows in the previous four days, Bitcoin ETFs remain supported. Over $470 million was acquired of BTC yesterday, up from Wednesday. IBIT tops again with $309 million inflow. ARKB also had a good day with $100.2 million. GBTC also gained $45.7 million yesterday.
