Bitcoin added to banking giant’s portfolio

Expanding its services in investing in Bitcoin (BTC) currency, US investment bank Morgan Stanley updated its corporate fund list.

In his application to the US Securities and Exchange Commission (SEC) on March 31, Morgan Stanley announced that he had updated the “Investment Policies and Strategies” section for 12 institutional portfolios. The update includes the addition of Bitcoin to various portfolios through the Grayscale Bitcoin Trust and cash-paid futures within the Morgan Stanley Institutional Fund.

The application includes the following statements:

“To the extent that any fund invests in Bitcoin futures or GBTC, it will do so through a wholly owned subsidiary organized as a company exempted under Cayman Islands law. […] Sometimes there may be no Bitcoin in the fund. “

Portfolios that can contain BTC are:

  • Advantage Portfolio
  • Asian Opportunity Portfolio
  • Counterpoint Global Portfolio
  • Opportunity Portfolio Development
  • Global Advantage Portfolio
  • Global Permanent Portfolio
  • Global Opportunity Portfolio
  • Growth Portfolio
  • Starter Portfolio
  • International Advantage Portfolio
  • International Opportunity Portfolio
  • Permanent Portfolio (each a separate “portfolio”)

With the advent of the institutional Bitcoin investment service at Morgan Stanley, interest has also been growing over the past few weeks. Claims that Morgan Stanley owns a large stake in Bithumb, one of South Korea’s leading stock exchange, are being spoken.

As Bloomberg reported in February, Morgan Stanley even considered buying Bitcoin directly through the Counterpart Global investment arm.

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