Bitcoin ETF Investment: Morgan Stanley Disburses $188 Million in Funds

Bittime - Morgan Stanley poured $188 million into BlackRock's iShares Bitcoin Trust (IBIT) while reporting investments in several other cryptocurrency ETFs!

Morgan Stanley Disburses $188 Million in Funds

According to Morgan Stanley, an investment banking company, they owned around $188 million in shares of BlackRock's iShares Bitcoin Trust (IBIT) as of June 30, 2024.

A filing submitted on August 14 to the US Securities and Exchange Commission (SEC) shows Morgan Stanley owns more than 5.5 million shares of this Bitcoin-focused exchange-traded fund (ETF).

Morgan Stanley Bitcoin ETF Investments

Additionally, Morgan Stanley reported smaller investments in several other cryptocurrency funds, each worth under $300. 

One of them is the Valkyrie ETF Trust, which has exposure to Bitcoin and Ethereum. Then there is the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ProShares Bitcoin Strategy ETF.

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Investments Before Morgan Stanley's Announcement

This investment occurred before Morgan Stanley announced that its financial advisors would be given immediate permission to advise their clients to purchase Bitcoin ETFs. The company points to IBIT and FBTC as key options for clients interested in crypto asset investments.

Morgan Stanley Predictions Face Scrutiny

However, some experts, including former SEC official John Reed Stark, who predicted that Morgan Stanley may face intense regulatory scrutiny, are already paying attention to this decision. Stark warned that the investment firm may face its most significant SEC and FINRA scrutiny yet.

Conclusion

Morgan Stanley has made several large investments in BlackRock's iShares Bitcoin Trust (IBIT), totaling approximately $188 million. 

Additionally, they also have smaller investments in several other cryptocurrency funds, such as Valkyrie ETF Trust, Fidelity Wise Origin Bitcoin Fund, and ProShares Bitcoin Strategy ETF. 

It wasn't long before Morgan Stanley made an announcement about its plans to allow its financial advisors to advise clients to invest in Bitcoin ETFs. 

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