Morgan Stanley to invest more in Grayscale shares
The US banking giant, Morgan Stanley, keeps paving its crypto-friendly path. The corporation invested more in shares of Grayscale, one of the largest crypto investment companies. The total investment volume reached $306 million - Morgan Stanley is now a holder of more than 6.6 million shares.
The holdings are divided between three investment funds: MS Insight Fund, Growth Portfolio, and MS Global Opportunity Portfolio. Compared to Q2 2021, the three investment funds ruled by Morgan Stanley have purchased more than 2.6 million Grayscale shares - holdings have jumped by 65.9%.
The 6th largest US bank stakes on Bitcoin, as Morgan Stanley-related funds invest in Grayscale Bitcoin Trust exceptionally, while the crypto investment giant offers 14 more digital currencies for institutional investors.
At the moment of writing the price of one GBTC share is $46.42. Within the last 6 months, the price has skyrocketed from $31.51 (the growth of 47.3%). This said, the overall Morgan Stanley investments are worth $306 million.
Morgan Stanley is the most progressive US banking entity, as the company was the first American banking institution that unlocks access to crypto investments and Bitcoin trusts to its clients.