On January 10, 2024, the US Securities and Exchange Commission finally approved the bitcoin ETF applications of 11 funds, including Fidelity, Grayscale, and Blackrock's IBIT. Within a month, trading volume increased as more banks, funds and individual traders acquired shares. One market participant that is slowly increasing its holdings is Morgan Stanley.
In his recent Presentation 13F-HR/A Before the SEC, Morgan Stanley declared $272 million worth of bitcoin ETFs at the end of the third quarter. Although it seems like a considerable investment, it only represents 2% of total assets under management, now valued at $1.3 trillion.
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Great news! Morgan Stanley, a $1.3 trillion asset manager, just disclosed $272 million in bitcoin ETF holdings. This is a clear sign that institutional adoption is accelerating. As more major players like Morgan Stanley continue to buy bitcoin, it is creating… https://t.co/bkCt59bSrD
– Jimie (@Your_NLP_Coach) twitter.com/Your_NLP_Coach/status/1847075960581247368?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>October 18, 2024
Morgan Stanley's btc Holdings Spread Across Blackrock, Ark21, and Grayscale Funds
Morgan Stanley maintains its holdings in different baskets as an experienced trader and investor. Many of its shares belong to Blackrock. iShare bitcoin Trust (IBIT). Management reported that it now owns 5.5 million shares of the btc ETF, which it purchased in the second quarter. Morgan Stanley's holdings in Blackrock were worth $187.7 million at the time of the transaction, but are now worth $209 million, or an increase of 10.2%.
The company also shared that it has a sizable stake in Ark 21 Shares, but has reduced its stake in Grayscale. Initially, Morgan Stanley He boasted of holdings worth $270 million, but they have now been reduced to $148,000.
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BTCUSD trading at $68,393 on the daily chart: TradingView.com
Morgan Stanley and its crypto-friendly strategy
Morgan Stanley is one of the leading asset managers with a bitcoin and cryptocurrency friendly strategy. Although the company was slow to invest in bitcoin-etf/” target=”_blank” rel=”noopener nofollow”>bitcoin ETFEven so, he managed to build one of the most important holdings in the United States.
In August 2024, the company gave the go-ahead to its managers to offer bitcoin/” target=”_blank” rel=”noopener nofollow”>bitcoin ETFs as an option for your wealthy clients. Considering its huge asset base, this was an important step for the company. For example, if your manager allocates just 1% of the company's assets to bitcoin ETFs, you will create an inflow of $130 billion.
bitcoin ETFs continue to push
The SEC's approval of spot ETFs was a game-changer for the industry. According to analyst Kripto Mevsimi, bitcoin is now a more mature asset and is starting to become an integral part of the financial market.
The market continues to support bitcoin ETFs, with impressive net flows over the past four days. Funds bought more than $470 million worth of btc yesterday, an improvement over Wednesday's entry. Once again, IBIT leads the game with an entry of $309 million. Additionally, ARKB had an impressive day with a $100.2 million take. GBTC was also positive, earning $45.7 million yesterday.
Featured image of MoneyControl, TradingView chart
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