Morgan Stanley recently reported that it contributed 2.1% of its Institutional Fund to BlackRock’s spot Bitcoin exchange-traded fund, which is known as IBIT.
On September 4, the company disclosed that it had assets worth more than $10 million, which is equivalent to around $211,000 invested in IBIT. This information was included in a filing with the Securities and Exchange Commission.
MicroStrategy, a business that has a sizeable Bitcoin reserve of 226,500 BTC, has also received 4% of the fund’s total allocation on the stock market. These two investments are both considered to be among the top 10 investments in the portfolio of the Institutional Fund.
Counterpoint Global, a part of Morgan Stanley, is in charge of managing this fund, which focuses on making long-term investments in businesses that have the potential to see considerable market expansion. The fact that the Counterpoint Global team has allocated 2% of their resources to IBIT suggests that they have a favorable perspective on the future of Bitcoin.
Morgan Stanley, a key participant in the asset management sector, has gave its 15,000 advisers permission to propose investments in US-traded Bitcoin exchange-traded funds (ETFs), beginning with IBIT and Fidelity’s FBTC. Morgan Stanley stated that it had assets worth more than $1.5 trillion in April.
Following the publication of a later SEC filing, Morgan Stanley disclosed that it had about $187 million in IBIT.
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