Select Page

Morgan Stanley Holds 28,000 Grayscale Bitcoin Trust Shares, Valued Over $800,000

Morgan Stanley Holds 28,000 Grayscale Bitcoin Trust Shares, Valued Over $800,000
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Wall Street investment bank Morgan Stanley holds a substantial sum of Bitcoin-related assets according to a filing with the U.S. SEC.

The assets were revealed in a monthly portfolio investments report filed to the U.S. Securities and Exchange Commission.

The report details investments by Morgan Stanley, one of which was Grayscale’s Bitcoin Trust. The bank holds 28,289 shares of the bitcoin fund estimated to be worth $1.32 million at the time of the filing.

The banking giant has been betting big on bitcoin this year. In January, Morgan Stanley purchased a 10.9% stake in MicroStrategy, the business intelligence firm that has been loading up on BTC.

In February, it was reported that the investment arm of the American bank was considering adding bitcoin to its list of hedges. The move followed that big $1.5 billion bitcoin purchase by Tesla.

More recently, Morgan Stanley made another move into the crypto industry by investing $48 million in the Securitize blockchain startup on June 21.

Grayscale holds more than 3% of all BTC

Institutional momentum has been the major catalyst for the 2021 crypto bull market. But there are signs that demand is starting to slow down as asset under management figures fall while outflows increase.

Grayscale is the largest institutional crypto asset manager with a total of $30 billion in assets under management according to its most recent report on June 28.

The company reportedly holds 654,600 BTC which is equivalent to 3.1% of the entire maximum supply. Its BTC trust comprises 74% of its entire crypto asset fund portfolio and is valued at $22.8 billion. MicroStrategy by comparison holds 105,085 BTC or roughly 0.5% of the total supply.


Institutional outflow slow

CoinShares has reported that there has been a massive outflow of funds from institutional bitcoin products over the past six weeks. However, its latest update revealed that they had slowed to just $1.3 million for the past week. This is down from a whopping $89 million for the previous week.

Grayscale even saw an inflow over the last week of $1.3 million in BTC as investors remain mixed over the asset. At the time of press, the asset was trading up 2% on the day at $35,180 according to CoinGecko. The psychological resistance barrier at $40,000 is its next target to break.

The post Morgan Stanley Holds 28,000 Grayscale Bitcoin Trust Shares, Valued Over $800,000 appeared first on BeInCrypto.


Source: BeInCrypto


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here



Select Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber

Recent Comments