Morgan Stanley Reveals Massive Bitcoin ETF Investments

The US banking giant Morgan Stanley has recently revealed massive investments into the US Spot Bitcoin ETF in the second quarter of 2024.

Banking giant Morgan Stanley has disclosed massive investments in the US Spot Bitcoin ETF during the second quarter of 2024.

In the latest SEC filing, the banking behemoth revealed that it held 5,500,626 shares of BlackRock iShares Bitcoin Trust (NYSE:IBIT) as of June end, which was valued at around $190 million.

Notably, this filing comes just after Goldman Sach’s revelation of a large-scale investment into the Bitcoin investment instrument.

Morgan Stanley Reveals Massive Bitcoin ETF Investments

The latest Morgan Stanley SEC filing showed that the leading banking firm has invested heavily in BTC ETF through BlackRock’s iShares Bitcoin Trust (IBIT). The 13F filing showed that the bank holds around 5.5 million shares of IBIT, valued at $187.79 million as of June 30. This marks a new position for the banking giant, placing it on the top five holders list of IBIT.

The decision to allocate such a massive part of its portfolio to Bitcoin through this ETF reflects the bank’s confidence in the crypto’s future potential. Besides, it also aligns with a broader trend among institutional investors who are shifting focus towards Bitcoin as a hedge against inflation and market uncertainties.

In addition, the recent disclosure comes a day after Goldman Sachs, another banking behemoth, revealed a substantial investment in Bitcoin ETF. According to their 13F filing, Goldman Sachs holds around 7 million iShares Bitcoin Trust and 1.5 million Fidelity’s FBTC shares. The timing of these latest disclosures from two of the leading financial institutions reflects the increasing focus on Bitcoin in traditional finance.

The above is the detailed content of Morgan Stanley Reveals Massive Bitcoin ETF Investments. For more information, please follow other related articles on the PHP Chinese website!