Morgan Stanley recently disclosed a 2.1% investment in BlackRock's spot Bitcoin ETF, IBIT, as part of its Institutional Fund.
In a filing with the SEC dated September 4, the firm reported holding over $10 million in assets, which translates to roughly $211,000 invested in IBIT.
The same fund has also allocated 4% to shares of MicroStrategy, a company that maintains a substantial Bitcoin reserve of 226,500 BTC. Both of these investments rank among the top ten in the Institutional Fund’s portfolio.
Managed by Counterpoint Global, a division of Morgan Stanley, this fund focuses on long-term investments in companies with potential for significant market growth. The 2% allocation to IBIT indicates a positive outlook on Bitcoin’s future from the Counterpoint Global team.
Morgan Stanley, a major player in the asset management industry with over $1.5 trillion in assets reported in April, recently permitted its 15,000 advisors to suggest investments in US-traded Bitcoin ETFs, starting with IBIT and Fidelity’s FBTC.
In a subsequent SEC report, Morgan Stanley revealed it holds nearly $187 million in IBIT.
Louisiana has become the latest U.S. state to accept cryptocurrency payments for state services.
CryptoQuant, a prominent market research firm, has observed a notable decline in the supply of short-term holders (STH) of Bitcoin (BTC), which may hinder the cryptocurrency’s potential price surge.
U.S. Congressman Warren Davidson has vocally criticized SEC Chair Gary Gensler, accusing the SEC of deliberately hindering Bitcoin ownership.
Michael Saylor’s MicroStrategy continues to expand its Bitcoin reserves, showing their undeniable optimism for the crypto market bull run.