Morgan Stanley, which holds the title of being one of the largest investment banks in the world with $ 6.5 trillion it manages, has added Bitcoin to its assets for its customers benefiting from fund services.
Morgan Stanley European Opportunity Fund, one of the bank’s most popular products, announced that it has purchased $3.6 billion worth of shares from Grayscale Bitcoin Trust, which holds spot Bitcoin and is traded on the Chicago Mercantile Exchange CME.
After announcing that they purchased Bitcoin törst, the authorities made the following statement:
“Our funds can invest up to 25% of their total assets in a subsidiary, sensitive to different investment strategies. The Morgan Stanley European Opportunity Fund has indirectly invested in spot Bitcoin with the Grayscale Bitcoin Trust (GBTC).
The Morgan Stanley European Opportunity Fund invests mainly in companies with high growth potential operating in the UK, France, Italy, Switzerland and the Netherlands.
Fund managers are also evaluating cheap opportunities in the rest of the world. For this reason, the giant bank bought from the GBTC fund. Thus, 3% of the fund distribution was reserved for Bitcoin.
Intense Interest in Crypto from Investment Banks!
Morgan Stanley is not the only investment bank to have cryptocurrencies in its funds lately. BlackRock, the world’s largest asset manager with $10 trillion under its management, recently announced that it has added Bitcoin to its Global Allocations Fund.
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