Multinational investment bank Morgan Stanley has disclosed that it holds a significant position worth $187.79 million in BlackRock’s iShares Bitcoin Trust, according to its latest Form 13F filing with the U.S. Securities and Exchange Commission.
Morgan Stanley Reveals $187 Million Position in BlackRock's Spot Bitcoin ETF, Sells GBTC Holdings
Morgan Stanley owned more than 5.5 million shares of the spot Bitcoin exchange-traded fund (ETF) as of June 30, 2024, positioning itself as one of the fund's five largest shareholders.
The investment bank also disclosed that it now owns 26,222 shares of the ARK 21Shares Bitcoin ETF, worth approximately $1.57 million. This represents a decrease from the previous allocation of $2.3 million at the end of the first quarter of 2024.
The filing highlights a significant reduction in Morgan Stanley’s investment in the Grayscale Bitcoin Trust, with assets falling to approximately $148,000.
This is a sharp drop from the $269.9 million position reported in the previous quarter, indicating a near-complete exit from GBTC.
Form 13F filings are quarterly reports required by the SEC from institutional investment managers with at least $100 million in capital assets.
These filings provide information about managers' stock holdings at the end of each quarter, but they do not disclose short positions.
IBIT stands out as the largest spot Bitcoin ETF by market cap and has $20 billion in assets under management. Another major financial institution, Goldman Sachs, also recently announced a significant stake in IBIT with 6.9 million shares worth $238.6 million.
In summary, Morgan Stanley’s total holdings in spot Bitcoin ETFs stood at approximately $190 million at the close of Q2 2024, reflecting a strategic shift in its cryptocurrency investment approach.
*This is not investment advice.
