Morgan Stanley, the largest bank in the USA has indirectly invested Approx. one million, into the Greyscale bitcoin trust. This large investment is announced by Macroscope(a well-known financial analyst) on Twitter and predicted its bitcoin exposure in June.
This $40 million indirect investment revealed in SEC filings reports that clearly shows significant indirect investment in greyscale bitcoin trust shares over 30 thousand portfolios. This report says about the third-largest wealth manager, Morgen Stanley holds greyscale bitcoin( GBTC) in its institutional fund, institutional trust, and variable insurance fund.
It is not the first investment of Morgen Stanley, earlier in January, this bank invested around $500 million in MicroStrategy( the largest cooperate holder of Bitcoin). After this, in June the bank announces a small investment of $1.3 million through the Europe opportunity fund.
Morgan Stanley always signs for further exposures in crypto. As hinted earlier or through this huge investment and the bank’s keen interest in acquiring South Korean crypto exchange Bethumb.
Other banks also join in:-
Because of the rise in Bitcoin at the end of last FY 2020, the major banks and other financial institutions are trying their hands in investment in Cryptocurrency.
Some popular financial institutions like JP Morgan, Gold men Sachs, BNY Mellon, and many others. Started cryptocurrency investments with a positive response in the periodic report.
However, the USA is stagnating in approving or legalizing Crypto investment, many other countries have to start integrating cryptocurrency into their financial infrastructure. That’s the result bitcoin is now clearing up in the whole world. Canada, Brazil, Chile are some pioneers that have approved ETFs and above all Europe paving the way for Crypto investment with full safety and has regulatory bodies to manage it.
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