New documents reveal that financial services firm Morgan Stanley holds hundreds of millions of dollars worth of spot-traded Bitcoin (BTC) exchange-traded funds (ETFs).
This is evident from data recently released by market insights firm Fintel, the Wall Street giant revealed its holdings to the regulator, showing that it purchased 4.27 million shares of the Grayscale Bitcoin Trust (GBTC) worth $269.8 million on May 15.
“Morgan Stanley has disclosed a total of 7,816 holdings in their latest SEC (Securities and Exchange Commission) filings. The latest portfolio value is calculated at $1,246,178,634,816… Morgan Stanley’s new holdings include Grayscale Bitcoin Trust.”
Other industry titans have also been active in the crypto space during the month of May. On May 2, France-based BNB Paribas, the ninth largest bank in the world, purchased 1,030 shares of the iShares Bitcoin Trust (IBIT) for a total of $41,684.
A week later, global trading and technology giant Susquehanna bought 17,271,326 shares of GBTC in three batches for a total of $1.09 billion. The company also bought millions of shares of other BTC ETFs from BlackRock, VanEck, Fidelity and ARK Invest.
On May 10, a Form 13F filing revealed that banking giant JPMorgan holds approximately $760,000 worth of spot BTC ETFs on behalf of its clients. Similarly, Wells Fargo announced that it was holding 2,245 shares of GBTC worth $121,000 for its customers.
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