Cryptocurrency News

Morgan Stanley Determined to Increase its Exposure to Cryptocurrencies

Ever since the business intelligence giant MicroStrategy started investing in cryptocurrencies, many other mainstream institutions have continued following its lead. MicroStrategy’s adoption of cryptocurrencies has given confidence to many other mainstream institutions that are not openly investing in cryptocurrencies.

It is not because they are following MicroStrategy’s lead, it is mainly because they now see the benefits of investing in cryptocurrencies. Although many mainstream institutions were interested in investing in cryptocurrencies, they were hesitant as it would impact their market presence.

However, as MicroStrategy ignored all the factors of being negatively impacted by cryptocurrencies’ adoption, other firms also started investing. They all gained the confidence of adopting and investing in cryptocurrencies.

Soon, the cryptocurrency industry was flocked with mainstream institutions aiming to make huge investments in the space. So far, a tremendous number of mainstream investors have become part of the cryptocurrency industry in ways other than making direct investments in cryptocurrencies.

This is where Morgan Stanley has found its resolve as it is also making investments in the cryptocurrency sector. In the past, several reports had emerged in regards to Morgan Stanley’s investments in cryptocurrencies.

This time, another report has emerged confirming that Morgan Stanley has made yet another huge investment in cryptocurrencies. The banking giant from the United States is reportedly gaining exposure to cryptocurrencies through Grayscale Bitcoin Trust.

At present, Grayscale is the largest cryptocurrency asset manager in the entire world. This is mainly because most of the mainstream institutions in the United States have been acquiring and investing in major cryptocurrencies through Grayscale Bitcoin Trust (GBTC).

As of now, it is considered the most preferred and favorite asset manager for helping mainstream institutions gain exposure to cryptocurrencies. The sources are revealing that Grayscale Bitcoin Trust has been making investments worth millions. The banking giant is reportedly doing this by investing money through different funds that it currently operates.

Even before the information surrounding Morgan Stanley’s latest investment in cryptocurrency was released, MacroScope, a Twitter user went ahead and share the information before any source.

MacroScope was the first source that shared the information and spread it all over social media platforms. Since then, there has been great hype among the cryptocurrency community as Morgan Stanley’s investment would bring back crypto-sentiments for the investors.

In order to prove his findings, the Twitter user compared the filings submitted by Morgan Stanley at the US Securities and Exchange Commission (SEC). He revealed that just a few months back, the filing Morgan Stanley submitted at the US SEC had low crypto-holdings.

However, the recent filing submitted by the banking giant at the US SEC shows higher investment made in cryptocurrencies. The filing it submitted at the US SEC a few months back showed Morgan Stanley owned 28.289 shares at GBTC.

Even in the past, the Twitter user MacroScope had predicted that Morgan Stanley will continue increasing its exposure to cryptocurrencies. Fast forward to the latest filing by Morgan Stanley, MacroScope stands acknowledged as his predictions were right about Morgan Stanley.

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