Morgan Stanley Latest Bank to Disclose Spot Bitcoin ETF Holdings for Clients
Summary
Morgan Stanley owned $269.9 million of Grayscale’s Bitcoin Trust (GBTC) as of March 31, according to a 13F filing. Other banks including JPMorgan, Wells Fargo, and UBS also reported holdings in spot bitcoin exchange-traded funds in the first quarter. These purchases may not reflect the banks' views on bitcoin's price direction, but could have been made on behalf of their wealth management clients or for market making and ETF authorized participant duties. Morgan Stanley began offering spot bitcoin ETF allocations to its clients after their approval in January, but only if the client proposed the investment.
