US investment bank Morgan Stanley has updated the prospectuses of several institutional funds to reflect potential exposure to bitcoin (BTC) via the grey market and cash-settled futures contracts, highlighting the rapid adoption of digital assets by major investment firms.
The 31st. In March, Morgan Stanley announced updated investment policies and strategies for 12 institutional portfolios, following filings with the U.S. Securities and Exchange Commission (SEC). The update allows Morgan Stanley Institutional Fund, Inc. Record bitcoin in multiple wallets with Grayscale Bitcoin Trust and Cash Futures.
The report states:
To the extent the fund invests in Bitcoin futures or GBTCs, it does so through a wholly-owned subsidiary organized as a tax-exempt company under the laws of the Cayman Islands…At times, the fund has no connection with Bitcoin.
Portfolios that could acquire exposure to BTC include:
- Advantage Portfolio Advantage
- Portfolio of Asian opportunities
- Counterpoint Global Portfolio
- Portfolio with development opportunities
- General benefits portfolio
- Global permanent portfolio
- A portfolio with global opportunities
- Growth portfolio
- service portfolio
- International services portfolio
- An international portfolio of opportunities
- Tenure portfolio (everyone, portfolio)
Rumors of institutional bitcoin offerings at Morgan Stanley have gained momentum in recent weeks after an internal memo revealed that the bank plans to offer exposure to cryptocurrencies to its high-net-worth clients. Morgan Stanley has also been linked to Bitumba after reports revealed that the bank had its eye on a major stake in a leading Korean stock exchange.
As Bloomberg reported in February, Morgan Stanley was even considering buying bitcoin through its investment arm Counterpart Global.
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