Morgan Stanley (NYSE:MS) disclosed a considerable stake in Grayscale’s Bitcoin Belief , totaling almost $270 million as of March 31, in response to a latest 13F submitting.
This funding, together with comparable disclosures from banking giants like JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC), and UBS (NYSE:UBS), underscores rising institutional curiosity in cryptocurrency amongst wealth administration shoppers.
It’s value noting that these holdings doubtless characterize investments made on behalf of shoppers, reasonably than a direct wager on Bitcoin by the banks themselves.
Following the approval of spot Bitcoin exchange-traded funds in January, Morgan Stanley started providing allocations to its shoppers, albeit on an unsolicited foundation. Which means shoppers needed to suggest the funding to the dealer, reflecting the cautious method taken by monetary establishments in the direction of cryptocurrency investments.
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