Morgan Stanley now discloses a whopping $272m in Bitcoin ETF holdings according to a 3F-HR/A filing with the SEC.
For the second consecutive quarter, Morgan Stanley, which manages assets totaling $1.3 trillion, has revealed its exposure to U.S. Bitcoin spot exchange-traded funds (ETFs).
In a filing with the U.S. Securities and Exchange Commission (SEC) on Thursday, Morgan Stanley disclosed that it holds $272 million in this investment vehicle as of the end of the third quarter.
This amount represents only 0.02% of the firm’s overall holdings.
A significant portion of these funds has been invested in the BlackRock iShares Bitcoin Trust (IBIT).
Morgan Stanley reported owning a total of 5.5 million shares acquired in the second quarter, valued at $187.7 million at the time of purchase.
The value of these shares has since risen to a whopping $209 million, reflecting a 10.2% increase.
Additionally, Morgan Stanley indicated that it has maintained its investments in the Ark 21 Shares Bitcoin ETF (ARKB) while substantially reducing its stake in the Grayscale Bitcoin Trust (GBTC).
The filing shows that its GBTC shares were decreased from $270 million to just $148,000.
Morgan Stanley is recognized as one of the more crypto-friendly asset managers in the U.S.
Recently, the investment bank announced that it has permitted its financial advisors to recommend Bitcoin ETFs to clients.
This development is particularly significant given the bank’s large asset base.
For instance, if Morgan Stanley were to allocate just 1% of its assets to Bitcoin spot ETFs, it could result in an influx of $130 billion into these products.
Morgan Stanley’s engagement with Bitcoin ETFs underscores the level of institutional interest these products could attract within the crypto market.
Notably, Goldman Sachs has also included Bitcoin ETFs in its portfolio.
Analyst Kripto Mevsimi commented that the introduction of spot ETFs has elevated Bitcoin’s status, suggesting that the leading cryptocurrency is maturing and becoming a key player in the global financial landscape.
On Thursday, inflows into U.S. Bitcoin spot ETFs reached impressive levels, continuing a streak of four consecutive days of positive net flows.
Issuers purchased $470.48 million worth of Bitcoin, marking an increase from the previous day’s inflows.
IBIT led the charge with an impressive inflow of $309 million, while ARKB saw a substantial single-day positive flow of $100.2 million.
GBTC also experienced a positive trend, bringing in $45.7 million yesterday and maintaining a four-day streak without any outflows.
The Fidelity Wise Origin Bitcoin Fund (FBTC) added $11.7 million worth of Bitcoin on Thursday.
Overall, Bitcoin spot ETFs have recorded inflows of $2.1 billion over the past five days, with cumulative net inflows surpassing $20 billion for the first time in history.
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Also Read: Bitcoin Is Now Preparing To Leave Gold And NASDAQ Far Behind
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