Morgan Stanley Reveals $269 Million Funding in Grayscale’s GBTC

Morgan Stanley, the sixth-largest banking agency in the US, has invested over $269 million in a spot Bitcoin ETF, as disclosed in its just lately printed Kind 13-F.

The Securities and Change Fee (SEC) submitting revealed that the funding was made in Grayscale’s GBTC in the course of the first quarter of 2024.

Morgan Stanley Joins Banks Investing in ETFs

Morgan Stanley’s latest funding positions it as one of many largest holders of GBTC. It intently follows Susquehanna Worldwide Group’s substantial $1.0 billion funding.

The agency is amongst a number of World Systemically Vital Banks (G-SIBs) which have publicly disclosed investments in spot Bitcoin ETFs. Different banks investing within the ETFs embrace the Royal Financial institution of Canada, JP Morgan Chase, Wells Fargo, BNP Paribas, and UBS.

These allocations had been highlighted within the first-quarter 13F reporting deadline, the tip of the preliminary interval for traders to buy most spot Bitcoin ETFs. In line with Bitwise CIO Matt Hougan, roughly 700 skilled corporations have invested almost $5 billion in spot Bitcoin ETFs by the Might 15 deadline.

Hougan described this pattern as representing a “historic scale {of professional} investor possession.” He defined that this was just like the launch of gold ETFs in 2004, which was reported as probably the most profitable ETF launch.

Regardless of the rise in institutional capital, retail investments represent a good portion of the funds invested in spot Bitcoin ETFs. Notably, latest knowledge exhibits that the whole belongings beneath administration (AUM) are roughly $50 billion.

Rising Institutional Curiosity in Bitcoin ETFs

A number of different corporations have disclosed their investments in spot Bitcoin ETFs, highlighting the rising institutional curiosity in crypto belongings.

On Might 14, New York advisory agency Pine Ridge Advisers revealed a $205.8 million funding in spot Bitcoin ETFs. This funding contains $83.2 million in BlackRock’s IBIT, $93.4 million in Constancy’s FBTC, and $29.3 million in Bitwise’s BITB.

As well as, various asset supervisor Aristeia Capital LLC disclosed a considerable $163.4 million funding in IBIT on Might 15. Equally, Connecticut-based funding agency Graham Capital Administration disclosed investments totaling $98.8 million in IBIT and $3.8 million in FBTC. Hedge fund supervisor Crcm LP additionally revealed a $96.6 million funding in IBIT.

New York-based hedge fund supervisor Boothbay Fund Administration disclosed a big $377 million publicity to identify Bitcoin ETFs. This funding contains $149.8 million in IBIT, $105.5 million in FBTC, $69.5 million in GBTC, and $52.3 million in BITB.

Moreover, New York funding supervisor Fortress Funding Group LLC disclosed a $53.6 million funding in IBIT, including to the rising listing of institutional gamers coming into the crypto house.