The American bank Morgan Stanley, through its European subsidiary Europe Opportunity Fund, owns 28,289 shares of the Grayscale Bitcoin Trust. This was reported in the report to the exchange regulator.
At the time of this writing, the declared amount is estimated at ~ $ 827 thousand. At the time of filing reports (April 30), the same volume of shares was worth ~ $ 1.3 million. Thus, in just two months the bank lost ~ 36% on GBTC shares.
Earlier, the bank’s experts said that it is time for major players in the financial world to think about how to enter the cryptocurrency market. According to Morgan Stanley, asset managers looking to enter the crypto market should consider investing in cryptocurrencies either through a mixed asset fund or through separate passive / active crypto products.
Grayscale is not doing very well, though. The trust margin is still in the negative zone. At the time of this writing, GBTC margins remain at -9.5%.
In early May, Digital Currency Group (DCG), the parent company of Grayscale, announced a deal to buy GBTC shares for up to $ 750 million. market at its sole discretion. However, it remains unknown whether the company bought up GBTC shares for $ 750 million.
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