Morgan Stanley, an investment bank on Wall Street, has been exposed to Bitcoin (BTC), through Grayscale. This is further evidence of institutional acceptance of digital assets.
Morgan Stanley Europe Opportunity Fund invests in European companies. As of April 30, , the Grayscale Bitcoin Trust (or GBTC) owned 28,298 shares. According to a June 28 filing with United States Securities and Exchange Commission,. Morgan Stanley's exposure to GBTC is approximately $840,000 at a current price of $29.68.
According to the filing, the exposure was worth more than $1.3 million as of April 31st.
Morgan Stanley's Europe Opportunity Fund is designed for maximum capital appreciation. It invests in assets that the investment team considers undervalued at purchase.
Grayscale, which manages $29 billion of assets, is the largest crypto asset manager in the world. Grayscale Bitcoin Trust holds the largest share of assets, with more than $21.7 billion.
Cointelegraph reported that Morgan Stanley is seeking greater exposure to Bitcoin in this year's financial markets. The investment bank increased Bitcoin exposure to 12 investment fund via Grayscale and cash-settled options in April. The Europe Opportunity Fund was not yet listed as a target for Bitcoin investments. The firm did however include multiple "Opportunity Portfolios" that targeted Asia and global markets.
Morgan Stanley led a $48 million Series A financing round for Securitize (a Coinbase-backed tokenization platform) earlier this month.