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Morgan Stanley continued to increase its Grayscale Bitcoin holdings between June and September. It looks like big investor:ins don’t want to miss out on this development either.

The US investment banking and securities trading firm Morgan Stanley further increased its Bitcoin holdings. As per filings with the US Securities and Exchange Commission (SEC) by Morgan Stanley, which have now been made public, the firm has dramatically increased its Bitcoin holdings in its wealth management business since June 2021.

As Twitter user MacroScope writes, the respective Grayscale Bitcoin (GBTC) holdings that Morgan Stanley holds increased from the June 30 date to September 30 this year as follows:

  • Growth Portfolio: 2,130,153 GBTC shares to 3,642,118 GBTC shares.
  • Insight Fund: 928,051 GBTC shares to 1,520,549 GBTC shares
  • Global Opportunity Portfolio 919,805 GBTC shares to 1,463,714 GBTC shares

As of press time, GBTC is trading at $46.88. That means over $170 million worth of shares in the first case alone. According to MacroScope, “other Morgan funds that own Grayscale BTC … also saw strong percentage gains.”

Repeating old patterns

This isn’t the first time that the firm has quietly dipped deeper into the bitcoin business (nor is it the first time that MacroScope has exposed it on Twitter). As Yellow Rocket Agency reported, Morgan Stanley’s stakes in Grayscale Bitcoin Trust were only revealed through SEC filings in the past. Nonetheless, the latest figures show that the firm’s interest seems to be on the rise. As recently as October, James Gorman, CEO of Morgan Stanley, had expressed the view that he did not believe that “crypto was a fad.”

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The Grayscale Bitcoin Trust is a trust that has been trading on the OTCQX market since 2013. This allows institutional and high net worth investors to gain exposure to bitcoin. The respective shares have a holding period of 12 months.