Nothing stops Bitcoin anymore? The leader in crypto-assets, Bitcoin (BTC), is slowly but surely approaching its all-time high in US dollars, and has even already exceeded its ATH in the fiat currencies of many countries. It must be said that, from now on, even large banks, like Morgan Stanleyseek to gain exposure (indirectly) to Bitcoin.
Banks know how to define a crypto, and want to be exposed to it
Unlike many other banks that we would describe as “last minute arrivals”, the group Morgan Stanleyhim, has been interested in Bitcoin for a long time and cryptocurrencies. And this interest seems always growing.
In any case, if we are to believe a recent filing of form (FORM N-1A) from Morgan Stanley to the regulators of the DRY (Securities and Exchange Commission). We learn in fact that the large multinational banking company wishes “ indirectly expose to Bitcoin » several of its own investment funds. Particularly via the recently approved BTC ETF cash.
“Cryptocurrency facilitates decentralized, peer-to-peer financial exchanges and serves as a store of value used like money, without the supervision of a central authority or banks. (…) Our funds may be exposed to Bitcoin indirectly through futures contracts (future) settled in cash, or indirectly through (…) exchange-traded products that invest in Bitcoin (ETFs spot of Bitcoin). (…) »
Extract from Morgan Stanley’s form sent to the SEC
Up to 25% in Bitcoin in Morgan Stanley funds
Grouped together in a sort of super large fund intended for the wealthy institutional investorsthese are thus no less than 13 investment portfolios of Morgan Stanley who signal their wish to invest (barely) “indirectly” in bitcoins.
And these 13 investment lines can be enjoyed, since they can include “up to 25%” of their total assets in the king of cryptos. Still according to the form filed with the services of the SEC, including its president, Gary Gensler, must still regret having approved these BTC ETFs.
With this document filed by Morgan Stanley, we understand that the sustained appetite of institutional investors for Bitcoin not ready to fall again. Already promoted by their various issuers who are well established on Wall Street, such as BlackRock And Fidelity (to name just the two largest), spot Bitcoin ETFs appear to still have very good days ahead of them.