Banking giant Morgan Stanley is significantly increasing its holdings of the digital currency investment product Grayscale Bitcoin Trust (GBTC).
GBTC gives institutional investors exposure to Bitcoin (BTC), and to date Grayscale has $36.6 billion in assets under management.
Citing information from Morgan Stanley’s filings with the U.S. Securities and Exchange Commission (SEC), market analyst MacroScope reports that the financial giant is ramping up shares of three of its funds with the largest GBTC holdings.
The bank’s Global Opportunity Portfolio, which held 919,805 shares back on June 30th, now has 1,463,714 shares as of September 30th.
The Insight Fund also sees an increase in GBTC holdings from 928,051 to 1,520,549 shares.
The Morgan Stanley Institutional Fund’s Growth Portfolio has the highest increase in investment, from 2,130,153 shares in the previous quarter to 3,642,118 at the end of the third quarter.
Morgan Stanley also doubled the number of its GBTC shares earlier this year.
The firm’s Europe Opportunity Fund saw a 105% increase in the number of GBTC shares from April to July.
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