What happened: Investment banking giant Morgan Stanley (NYSE: MS) is now the second-largest shareholder of the Bitcoin Trust in Grayscale (OTCMKTS: GBTC) to ARK Investment Management.
according to recent SEC filingsMorgan Stanley owns more than 6.5 million shares of GBTC worth more than $240 million at the time of writing.
Cathie Wood’s ARK Invest funds currently own 9 million shares worth $350 million.
Morgan Stanley’s GBTC holdings are spread across a range of funds, of which the Morgan Stanley Insight Fund holds nearly 1 million shares.
The purchases of recent months also show how significantly Morgan Stanley has increased its exposure to the leading digital asset.
At the end of June, the company reported with 28,000 shares of GBTC worth about $800,000 at the time.
What else: The Grayscale Bitcoin Trust itself owns more than $31.24 billion in Bitcoin (CRYPTO: BTC) according to a recent update of his assets under management.
The digital wealth management company had a total AUM of more than $43 billion at the time of writing, of which nearly $10 billion is owned by Grayscale Ethereum Trust (OTCMKTS: ETHE).
Grayscale appeared earlier this year revealed that it was 100% committed to converting its Bitcoin trust, which is currently the largest in the world, into an Exchange Traded Fund (ETF).
Price promotion: As of going to press, GBTC shares were trading at $39.15, up 3.52%. Bitcoin was up 3.66% in the past 24 hours and traded at a price of $48,976.
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