According to a Securities and Exchange Commission (SEC) report submitted on September 27, the Morgan Stanley Europe Opportunity Fund, which invests in established and growing businesses across Europe, held 58,116 shares of the Grayscale Bitcoin Trust (GBTC) as of July 31.
The price of GBTC is $34.28 at the time of writing, suggesting that the investment bank’s exposure to Bitcoin (BTC) is about $2 million — Morgan Stanley said that the shares cost $2.4 million.
According to previous disclosures, Morgan Stanley has raised its stake in GBTC by more than 105 percent since April.
According to Cointelegraph, the investment bank had 28,298 GBTC in June, which was worth around $1.3 million at the time.
Morgan Stanley is increasing its exposure to Bitcoin (BTC) in 2021. The Europe Opportunity Fund of the business seeks to maximize capital appreciation by investing in “high quality established and developing” European firms that the team believes are “undervalued at the time of purchase.”
In April, the investment bank said it would add Bitcoin exposure to 12 investment vehicles via Grayscale and cash-settled futures.
Later, Morgan Stanley led a $48 million fundraising round for Securitize, a Coinbase-backed tokenization platform; Morgan Stanley’s first financial investment in blockchain.
Cathie Wood, CEO of Ark Invest, has also made a significant investment in the Grayscale Bitcoin Trust. In July, the company said that it had bought over 450,000 GBTC shares in two separate transactions.
At the time of publishing, Ark Invest and its institutional funds had more than 8.3 million GBTC shares, amounting to around 0.69 percent of the total.