Amidst another market correction, US banking giant Morgan Stanley increases Grayscale Bitcoin Trust Investment.
GBTC is offering institutional investors exposure to Bitcoin, and until now, they have $36,6 billion in assets under management.
It’s been just revealed that market analyst MacroScope reported that the financial giant is boosting shares of three of its funds with the most significant GBTC holdings.
Check out this relevant tweet below.
In new SEC filings, Morgan Stanley has disclosed a dramatic increase in Bitcoin exposure in its asset management business.
Earlier this year, Morgan reported buying Grayscale BTC in a large number of investment funds. For the three funds with the largest Grayscale holdings…
— MacroScope (@MacroScope17) November 24, 2021
It’s also worth noting the fact that the growth portfolio has the highest increase in investment. Here’s the tweet that details more about this:
In new SEC filings, Morgan Stanley has disclosed a dramatic increase in Bitcoin exposure in its asset management business.
Earlier this year, Morgan reported buying Grayscale BTC in a large number of investment funds. For the three funds with the largest Grayscale holdings…
— MacroScope (@MacroScope17) November 24, 2021
They continued and revealed the following:
“here are the changes that were just disclosed: Growth Portfolio (as of June 30): 2,130,153 shares Growth Portfolio (as of Sept 30): 3,642,118 shares Insight Fund (as of June 30): 928,051 shares Insight Fund (as of Sept 30): 1,520,549 shares (continued).”
One other thing that is worth noting is that Morgan Stanley doubled the number of GBTC shares earlier this year.
BTC is seeing another correction
As we said at the beginning of this article, BTC is undergoing another correction.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $54,894.
Meanwhile, BTC adoption continues, and El Salvador just bought the dip once again. Here’s the president’s tweet below:
El Salvador just bought the dip.
100 extra coins acquired with a discount 🥳#Bitcoin 🇸🇻
— Nayib Bukele 🇸🇻 (@nayibbukele) November 26, 2021
This is an important move from the country, and investors are hoping that it will become an example for others as well.
