Morgan Stanley significantly increased its exposure to bitcoin, buying over 6.5 million shares of the Grayscale Bitcoin Trust, worth more than $240 million. dollars, according to data forwarded to the U.S. Securities and Exchange Commission (SEC).
The major U.S. bank is now the second-largest shareholder in Grayscale Bitcoin Trust, after Cathie Wood’s ARK.
At the end of June, the bank had reported that it held 28,000 shares of GBTC worth about $800,000.
Grayscale Bitcoin Trust has purchased bitcoin worth $31.24 billion dollars, according to the recent update on the portfolio he manages.
Earlier this year, Grayscale announced that it is 100% committed to converting its capital into bitcoin into an Exchange Traded Fund (ETF).
GBTC’s stock was trading yesterday at $39.15, up 3.52%, while the price of bitcoin was posting a gain of 3.66% at $48,976.