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Finance

Morgan Stanley Approves Bitcoin Exposure for Handful of Mutual Funds

The megabank is positioning itself to take an active role across the bitcoin markets.

By Danny Nelson
AccessTimeIconApr 1, 2021 at 2:48 p.m. UTC
Updated May 9, 2023 at 3:17 a.m. UTC
morgan stanley

Morgan Stanley is giving a handful of its mutual funds the ability to invest indirectly in bitcoin through cash-settled futures contracts and Grayscale’s bitcoin trust.

According to Thursday regulatory filings, ‘’certain funds” now have the go-ahead to seek “exposure to bitcoin indirectly.” The initial rollout features five Morgan Stanley fund families: Institutional Fund, Institutional Fund Trust, Europe Opportunity Fund, Insight Fund and Variable Insurance Fund.

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    • Each fund may invest up to 25% of its total assets in bitcoin, the filings state. It was not clear at press time if any had begun. Morgan Stanley declined to comment.

    Read more: Morgan Stanley Sees Cryptocurrencies on Path to Investable Asset Class

    The green-light underscores Morgan Stanley’s increasing interest in bitcoin as an asset class even if, for now, it is keeping the crypto at arm’s length through indirect exposure. Last month, it debuted bitcoin investment fund products but only for high-net-worth clients.

    Even yesterday the megabank put out its first hiring call for a cryptocurrency and blockchain lead analyst.

    Grayscale is owned by CoinDesk parent company Digital Currency Group.

    UPDATE (April 1, 16:40 UTC): Adds no comment from Morgan Stanley.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.