Megabank Morgan Stanley has purchased 28,289 shares of Grayscale Bitcoin Trust through its Europe Opportunity Fund, according to an SEC filing.
Grayscale is owned by CoinDesk parent company Digital Currency Group.
Morgan Stanley has been increasingly active in the cryptocurrency space in recent months to meet growing demand from its clients. In April, the firm allowed a handful of its funds to invest indirectly in bitcoin through cash-settled futures contracts and Grayscale’s Bitcoin Trust, including the Institutional Fund, Institutional Fund Trust, Insight Fund and Variable Insurance Fund.
Each fund may invest up to 25% of its assets in bitcoin, according to earlier SEC filings. The Europe Opportunity Fund includes a mix of Europe-based companies in the technology and non-technology space, and other investments.
In March, Morgan Stanley debuted bitcoin investment fund products for high-net-worth clients and began recruiting for a cryptocurrency and blockchain lead analyst.
Source: Coindesk
