New Filing Reveals Morgan Stanley Opportunity Fund’s Potential $140 Million Bitcoin Move
Summary
Morgan Stanley is preparing for potential Bitcoin ETF approval in the US. The institution has filed a report allowing up to 25% allocation to Bitcoin through a subsidiary, Europe Opportunity Cayman Portfolio. This subsidiary may invest in Bitcoin through cash-settled futures or Grayscale Bitcoin Trust. The move aims to gain exposure to commodity markets within tax regulations. However, changes in tax treatment could impact the Fund's taxable income and distributions. Overall, this reflects growing institutional interest in cryptocurrencies. Bitcoin is currently trading at $45,100, marking a one-year high with a 7% surge in the past week.
