Bitcoin ETFs: Morgan Stanley, Wisconsin Among Investors Betting Millions on BTC

Key Takeaways

• Major financial players like Morgan Stanley and Goldman Sachs are increasing their Bitcoin exposure through ETF investments.
• The growing institutional interest is likely to contribute to increased market liquidity and stability for Bitcoin.
• While overall sentiment is bullish, the crypto market remains volatile. 

Morgan Stanley Bets Big On BTC

Wall Street titan Morgan Stanley is betting big on Bitcoin.

The bank’s latest 13F filing  revealed a massive stake in BlackRock’s iShares Bitcoin Trust (IBIT) – 5.5 million shares worth around $190 million.

The investment underscores the growing interest in Bitcoin among institutional investors and closely follows a similar one made by Goldman Sachs.

Interestingly, Morgan Stanley’s foray into the world of cryptocurrencies doesn’t stop there.

The bank has also taken steps to offer direct Bitcoin exposure to its qualified clients, further solidifying its position at the forefront of Wall Street’s crypto adoption.

Wisconsin Invests In BlackRock ETF

Wisconsin’s state investment board is also doubling down on Bitcoin. According to its 13F filings , like Morgan Stanley, the state has significantly increased its stake in IBIT.

The board’s move is part of a bigger trend as major financial institutions start to take Bitcoin seriously and look for ways to get in on the action.

Wisconsin’s filing also reveals a significant shift away from Grayscale’s Bitcoin Trust (GBTC) in favor of BlackRock’s IBIT — a trend gaining momentum in the market. The move is likely driven by the stark difference in management fees: GBTC charges a hefty 1.5%, while IBIT’s fee is a more modest 0.25%.

Since January, GBTC has seen its assets under management plummet by over $19 billion , relinquishing its top spot. Meanwhile, IBIT has surged to the top, raking in $20.5 billion during the same period.

About the Author

Giuseppe Ciccomascolo

Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors. Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.

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