Morgan Stanley, banking giant, has bought more than 28,000 shares of Grayscale Bitcoin. It is owned by Digital Currency Group. Morgan Stanley has been becoming more and more involved in the cryptocurrency industry, as it races to meet the needs of its clients.
Each fund is able to invest a maximum of 25% of current assets in Bitcoin, according to filings with the SEC. The Europe Opportunity Fund, which is what Morgan Stanley used to make the investment, includes a number of companies based in Europe in both the technology industry, and outside of it.
Morgan Stanely announced that it would be obtaining Bitcoin investment fund products for some of their clients, and even set out to recruit a blockchain and cryptocurrency lead analyst.