Morgan Stanley Discloses $187 Million Position in BlackRock’s Spot Bitcoin ETF, Sells Off GBTC Holdings
Morgan Stanley, the multinational investment bank, has revealed a substantial $187.79 million position in BlackRock’s iShares Bitcoin Trust (ticker: IBIT), according to its latest Form 13F filing with the U.S. Securities and Exchange Commission. As of June 30, 2024, Morgan Stanley owned more than 5.5 million shares of the spot Bitcoin exchange-traded fund (ETF), positioning itself as one of the top five shareholders in the fund.
The investment bank also disclosed ownership of 26,222 shares of the ARK 21Shares Bitcoin ETF (ticker: ARKB), valued at approximately $1.57 million. This represents a decrease from its earlier $2.3 million allocation at the end of Q1 2024.
Significantly, the filing highlights a dramatic reduction in Morgan Stanley’s investment in the Grayscale Bitcoin Trust (ticker: GBTC), with holdings dropping to around $148,000. This is a sharp decline from the $269.9 million position reported in the previous quarter, indicating a near-total exit from GBTC.
Form 13F filings are quarterly reports required by the SEC from institutional investment managers with at least $100 million in equity assets. These filings provide insight into managers’ stock holdings at the end of each quarter, though they do not disclose short positions.
IBIT stands out as the largest spot Bitcoin ETF by market capitalization, boasting $20 billion in assets under management. Goldman Sachs, another major financial institution, also recently disclosed a significant stake in IBIT, with 6.9 million shares worth $238.6 million.
In summary, Morgan Stanley’s total holdings in spot Bitcoin ETFs amounted to approximately $190 million at the close of Q2 2024, reflecting a strategic shift in its cryptocurrency investment approach.
