{"id":193943,"date":"2021-06-29T14:00:33","date_gmt":"2021-06-29T13:00:33","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=193943"},"modified":"2021-10-19T15:14:22","modified_gmt":"2021-10-19T14:14:22","slug":"morgan-stanley-exposed-to-26-5-btc-via-grayscale-bitcoin-trust","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/morgan-stanley-exposed-to-26-5-btc-via-grayscale-bitcoin-trust\/","title":{"rendered":"Morgan Stanley exposed to 26.5 BTC via Grayscale Bitcoin Trust"},"content":{"rendered":"

A fund offered by US bank <\/span>Morgan Stanley<\/span><\/a> has exposure to nearly $1 million worth of Bitcoin via the <\/span>Grayscale Bitcoin Trust (GBTC)<\/span><\/a>, a filing with the US Securities and Exchange Commission (SEC) shows.<\/span><\/p>\n

The Bitcoin push<\/b><\/h2>\n

The bank has famously flopped back-and-forth on cryptocurrencies, keeping its distance from the sector at times while branching out to provide crypto services to clients in recent times.<\/span><\/p>\n

But one can\u2019t ignore the price gyrations of Bitcoin for long. The bank filed with the SEC earlier this year to <\/span>gain exposure to the world\u2019s largest cryptocurrency<\/span><\/a> through \u2018several' of its funds.<\/span><\/p>\n

And the moves didn\u2019t take long. As per the filing, the bank\u2019s Europe Opportunity Fund\u2014which invests in \u2018established\u2019 and \u2018emerging\u2019 companies in the region\u2014picked up over 28,289 shares of GBTC earlier this year, gaining direct exposure to 26.5 Bitcoin, worth just over $944,000.<\/span><\/p>\n

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Morgan Stanley Europe Opportunity Fund, Inc. holds 28,289 of GBTC.<\/p>\n

This represents 0.54% of the Fund. Their cost basis per unit of GBTC is $46.85. GBTC opened today at $29.10.<\/p>\n

(h\/t @MacroScope17<\/a>) #bitcoin<\/a> pic.twitter.com\/yOchx0Zt86<\/a><\/p>\n

— Neil Jacobs ? (@NeilJacobs) June 28, 2021<\/a><\/p><\/blockquote>\n