Morgan Stanley is Now the Second Largest Shareholder in Grayscale Bitcoin Trust

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.

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