Morgan Stanley Discloses $187 Million in Bitcoin ETF Holdings

Morgan Stanley Discloses $187 Million in Bitcoin ETF Holdings

PENGY August 15, 2024, 1:03 am Facebook Twitter


$1.3 trillion asset manager Morgan Stanley has disclosed $187 million in Bitcoin ETF holdings. The company has reported owning 5.5 million shares in BlackRock’s iShares BTC ETF as of June 30.

With the latest disclosed holdings, Morgan Stanley is now a top-five holder of BlackRock’s Bitcoin ETF. The filing notes under “Investment Discretion” that all 5.5 million shares are allocated to Morgan Stanley Investment Management Inc. Its advisors began offering Spot Bitcoin ETFs to their clients at the beginning of August. The select clients will be able to gain exposure to BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC).

Morgan Stanley is one of many who have turned to embrace Bitcoin. However, there are still cautious banks in the US. Goldman Sachs, JPMorgan, Bank of America, and Wells Fargo all prohibit advisors from pitching BTC ETFs. Yet, that is likely to change with increased demand.

Also Read: Morgan Stanley Advisors to Now Offer Spot Bitcoin ETFs to Clients

Investors are growing increasingly in favor of Bitcoin as a popular asset to pick up. Thus, banks and asset management firms have begun changing their tone on cryptocurrencies such as BTC, and Morgan Stanley is one of the few already making major moves on behalf of its investors.

Bitcoin has grown in potential and value since the launch of Bitcoin ETFs in January 2024. Despite being down from its all-time high, Bitcoin still has bullish momentum according to experts. The latest news from Morgan Stanley will likely be a catalyst for hype around Bitcoin ETFs. If other banks follow suit and grant permission to pitch Bitcoin ETFs, the asset may garner more demand, thus pumping its price.

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