$1.3 trillion asset manager Morgan Stanley has disclosed $187 million in Bitcoin ETF holdings. The firm said it held 5.5 million shares in BlackRock’s iShares BTC ETF as of June 30.
With the latest disclosed holdings, Morgan Stanley is now one of the top five holders of BlackRock's Bitcoin ETF. submit notes under “Investment Discretion” that all 5.5 million shares have been allocated to Morgan Stanley Investment Management Inc. The advisors began offering Spot Bitcoin ETFs to their clients in early August. Selected clients will be able to gain exposure to BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC).
Morgan Stanley is among the many that have embraced Bitcoin. However, there are still cautious banks in the US. Goldman Sachs, JPMorgan, Bank of America and Wells Fargo all ban advisors from pitching BTC ETFs. But that is likely to change with increased demand.
Also Read: Morgan Stanley Advisors Now Offering Spot Bitcoin ETFs to Clients
Investors are increasingly favoring Bitcoin as a popular asset to pick up. Banks and asset managers have therefore started to change their tune towards cryptocurrencies like BTC, and Morgan Stanley is one of the few that is already making big moves on behalf of its investors.
Bitcoin has been growing in potential and value since the launch of Bitcoin ETFs in January 2024. Despite being down from its all-time high, Bitcoin still has bullish momentum according to experts. The latest news from Morgan Stanley is likely to be a catalyst for hype around Bitcoin ETFs. If other banks follow suit and grant permission to pitch Bitcoin ETFs, the asset could generate more demand, pushing its price higher.