Recent 13F SEC filings revealed that several large US financial institutions have allocated large amounts of funds to Bitcoin. Spot ETFthese filings disclose institutional holdings with an allocation of more than $100 million.
Investors have been waiting for these disclosures ever since the SEC approved several spot Bitcoin ETFs earlier this year. The following names were revealed in the filing: Wisconsin Investment Commission, wells fargo, J.P. Morgan others.
Now, the latest disclosures reveal a giant financial services company morgan stanley bought $269.9 million GBTC value in grayscale. This made Morgan Stanley one of his largest institutional holders of GBTC. Susquehanna’s position is $1.8 billion..
New: $1.5 trillion Morgan Stanley Reveals Spot Holdings #bitcoin ETF Exposure in SEC Filings 👀 pic.twitter.com/tRAznuHHRF
— Bitcoin Magazine (@BitcoinMagazine) May 17, 2024
With more than $1.5 trillion in assets under management, the allocation signals the Wall Street giant’s growing confidence in Bitcoin’s role in its portfolio.
This joins other large banks such as JPMorgan, BNP Paribas, and Royal Bank of Canada who have revealed spot purchases of Bitcoin ETFs.
Even though some companies like Vanguard are against Bitcoin, the broader shift is towards accepting Bitcoin exposure. Clients are seeking access to Bitcoin’s growth prospects both as an inflation hedge and as an alternative asset class.
Old guard banks have been steadily allocating funds to Bitcoin ETFs, which represents a monumental shift. Morgan Stanley’s acquisition comes after executives spoke positively about Bitcoin’s potential. Although still a small percentage of AUM, it shows that Legacy Finance recognizes the value of Bitcoin.
As traditional large financial institutions increase their interest in Bitcoin, easily accessible ETFs are enabling entry. The first quarter disclosures provide concrete evidence that these giants are acting with growing confidence in Bitcoin’s staying power.
