According to the U.S. Securities and Exchange Commission document, the US leading investment bank Morgan Stanley is buying 28,289 shares of Grayscale Bitcoin Trust through its European Opportunity Fund.
The document shows that up to 25% of each fund’s portfolio can invest assets in Bitcoin. The European Opportunity Fund includes European companies in technical and non-technical fields and other investments.
The Grayscale Bitcoin Trust is an investment vehicle designed to enable investors to trade Bitcoin shares without actually owning the underlying cryptocurrency, first established in 2013 by Barry Silbert. He also is the founder and CEO of Digital Currency Group (DCG), a Bitcoin and blockchain investment company that has invested in lots of famous companies such as Ripple, Coinbase, Circle, Kraken, and Chainalysis.
Recently, Morgan Stanley remains active in the cryptocurrency market.
According to the coverage from the Blockchain.News on March 21, Morgan Stanley was considering buying a significant share in Bithumb, a major crypto exchange in South Korea.
And on March 18, 2020, Morgan Stanley has made history as the first American bank to offer its clients access to Bitcoin (BTC) fund investments. Morgan Stanley succumbed to the request of its clients by providing the service and provision for those qualified clients to access up to three Bitcoin funds. These funds include two from Galaxy Digital, a crypto firm founded by Mike Novogratz, and one from a joint effort from asset manager FS Investments and bitcoin company NYDIG.