Morgan Stanley, the American Banking giant in an SEC Filing on Thursday revealed that it is all set to add Bitcoin exposure to 12 of its institutional funds via cash-settled futures or a Grayscale’s Bitcoin Trust.
The SEC filing confirms earlier reports about the possibility of the Bank adding Bitcoin exposures to its various popular investment funds along with direct ownership of Bitcoin for clients. The 12 funds which would see Bitcoin exposure include,
- Advantage Portfolio
- Asia Opportunity Portfolio
- Counterpoint Global Portfolio
- Developing Opportunity Portfolio
- Global Advantage Portfolio
- Global Permanence Portfolio
- Global Opportunity Portfolio
- Growth Portfolio
- Inception Portfolio
- International Advantage Portfolio
- International Opportunity Portfolio
- Permanence Portfolio (each, a “Portfolio)
Each of the 12 funds would have up to 25% allocation towards bitcoin, which is significantly high and indicates growing institutional demand for Bitcoin-based products. The official filing read,
“Each of the Advantage Portfolio, Asia Opportunity Portfolio, Counterpoint Global Portfolio, Developing Opportunity Portfolio, Global Advantage Portfolio, Global Permanence Portfolio, Global Opportunity Portfolio, Growth Portfolio, Inception Portfolio, International Advantage Portfolio, International Opportunity Portfolio and Permanence Portfolio may, consistent with its principal investment strategies, invest up to 25% of its total assets in a wholly-owned subsidiary of the Fund organized as a company under the laws of the Cayman Islands,” the filing states. “Each Subsidiary may invest in GBTC, cash-settled bitcoin futures, and other investments.”
Top Wall Street Banks and Investment Funds Are Rushing to Add Bitcoin Exposure
Goldman Sachs, the investment banking giant yesterday also filed with the SEC to offer Bitcoin exposure to its clients across various products and even talked about offering physical Bitcoin exposures. Today Morgan Stanley’s filing only confirmed that this bull season most of the wall Street investors who were watching from the sidelines up until now have joined on the growing Bitcoin bandwagon.
Only last year most of these banks didn’t even allow people to open an account for crypto transactions.
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