Morgan Stanley (NYSE:MS) disclosed a significant stake in Grayscale’s Bitcoin Trust, totaling nearly $270 million as of March 31, as reported in a recent 13F filing.
This investment, along with similar disclosures from major banks like JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC), and UBS (NYSE:UBS), highlights the increasing interest in cryptocurrency among wealth management clients.
It is important to note that these holdings likely represent investments made on behalf of clients, rather than a direct investment in Bitcoin by the banks themselves.
After the approval of spot Bitcoin exchange-traded funds in January, Morgan Stanley started offering allocations to its clients, although on an unsolicited basis. This means that clients had to propose the investment to the broker, showing the cautious approach financial institutions are taking towards cryptocurrency investments.
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