Morgan Stanley Boosts Crypto Holdings with 23% Increase in BlackRock's Bitcoin ETF

Morgan Stanley's Q2 crypto fund positions saw significant growth, led by a 23% increase in its holdings of BlackRock's iShares Bitcoin Trust ETF (IBIT). The investment banking giant now holds around 16.5 million shares of IBIT, up from 13.4 million in the previous quarter.

The value of Morgan Stanley's IBIT position fell by about 18% to $549 million due to the decline in Bitcoin prices during Q2. However, the company increased its exposure to several smaller Bitcoin ETFs, including Grayscale Bitcoin Mini Trust ETF (BTC) and Bitwise Bitcoin ETF (BITB), as well as Fidelity Wise Origin Bitcoin Fund (FBTC).

Morgan Stanley also grew its Ether holdings, with a 202% increase in iShares Ethereum Trust ETF (ETHA) to around 4.6 million shares and a 26% rise in Grayscale Ethereum Staking Mini ETF (ETH) to 5.1 million shares.