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Morgan Stanley Investment Fund Increases Exposure to Grayscale Bitcoin Trust by 100%

Morgan Stanley Investment Fund Increases Exposure to Grayscale Bitcoin Trust by 100%


A Morgan Stanley investment fund is doubling the number of Grayscale Bitcoin Trust (GBTC) shares it holds.

A filing with the U.S. Securities and Exchange Commission (SEC) shows that the Morgan Stanley Europe Opportunity Fund (EUGAX) increased the number of GBTC shares by 105% from the end of April to late July of this year.

As of April 30th, the Morgan Stanley Europe Opportunity Fund held 28,298 GBTC shares, but this rose to 58,116 shares as of July 31st.

The Morgan Stanley Europe Opportunity Fund invests “primarily in high quality established and emerging companies” believed to be “undervalued at the time of purchase.”

The Grayscale Bitcoin Trust, which gives investors exposure to Bitcoin (BTC) via a traditional investment vehicle, currently boasts $28.2 billion worth of assets under management. Since its inception in September of 2013, GBTC shares have appreciated by 29,028% according to Grayscale.

In addition to the EUGAX, four other Morgan Stanley funds have bought GBTC shares in the recent past.

Late last month, SEC filings revealed that the Morgan Stanley Insight Fund (CPODX), the Morgan Stanley Institutional Fund (MSEGX), Morgan Stanley Institutional Fund Trust (MACGX), and the Morgan Stanley Variable Insurance Fund (MUSRX) all bought varying amounts of GBTC shares.

Per the SEC filing, the Morgan Stanley Institutional Fund bought the largest amount of GBTC shares at 4,772,064.

The Morgan Stanley Insight Fund bought 928,051 GBTC shares while the Morgan Stanley Institutional Fund Trust purchased 611,868 GBTC shares.

The Morgan Stanley Variable Insurance Fund acquired 179,703 GBTC shares.

At the time of writing, GBTC was trading at $34.18 per share, according to TradingView.

Featured Image: Shutterstock/iurii/nsimsek0



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