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Morgan Stanley Approves Bitcoin Exposure for Handful of Mutual Funds

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

Apr 1, 2021 at 2:48 p.m. UTC
Updated Sep 14, 2021 at 12:34 p.m. UTC

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.

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.

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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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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