Megabank Morgan Stanley has purchased 28,289 shares of Grayscale Bitcoin Trust through its Europe Opportunity Fund, according to a U.S. Securities and Exchange Commission filing.
Morgan Stanley has been increasingly active in the cryptocurrency space in recent months to meet growing demand from its clients. In April, the firm allowed a handful of its funds to invest indirectly in bitcoin through cash-settled futures contracts and Grayscale’s Bitcoin Trust, including the Institutional Fund, Institutional Fund Trust, Insight Fund and Variable Insurance Fund.
Each fund may invest up to 25% of its assets in bitcoin, according to earlier SEC filings. The Europe Opportunity Fund includes a mix of Europe-based companies in the technology and non-technology space, and other investments.
In March, Morgan Stanley debuted bitcoin investment fund products for high-net-worth clients and began recruiting for a cryptocurrency and blockchain lead analyst.
Grayscale is owned by CoinDesk parent company Digital Currency Group.
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 offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.