Shortly after announcing that it intended to offer bitcoin access to its customers, Morgan Stanley applied to the US Securities and Exchange Commission (SEC) for permission to link 12 of its investment funds to bitcoin, through the Grayscale Bitcoin Trust (GBTC) or through futures contracts.
According to the application submitted on March 31, the giant investment house requested the link of bitcoin to the following investment funds:
Advantage Portfolio, Asia Opportunity Portfolio, Counterpoint Global Portfolio, Developing Opportunity Portfolio, Global Advantage Portfolio, Global Permanence Portfolio, Global Opportunity Portfolio, Growth Portfolio, Inception Portfolio, International Advantage Portfolio, International Opportunity Portfolio and Permanence Portfolio.
These funds will be exposed to bitcoin indirectly, either through futures contracts or through investments in the Grayscale Bitcoin Trust (GBTC). If the application is approved, the above will be implemented through a subsidiary subject to the law of the Cayman Islands.
In the above application, the highest bitcoin exposure rate is 25% of the total data.
Earlier in March, Morgan Stanley announced that it would offer its institutional clients access to three bitcoin funds, as the demand for bitcoin investment products increased.
Then we had the reports of interest from Morgan Stanley in the acquisition of a percentage of the largest South Korean cryptocurrency exchange Bithumb.