Investment bank Morgan Stanley on Thursday released documentation showing the potential for bitcoin to be included in several of its funds. The filing for the U.S. Securities and Exchange Commission (SEC) mentions 12 funds, including Counterpoint Global, which is supposed to be the bank's mechanism for investing in bitcoin.
"Certain funds may gain indirect access to bitcoin through traditional currency futures or through investments in the Grayscale Bitcoin Trust (BTC) ("GBTC"). The fund's investments will be made through an entity under its full control, organized on an exclusive basis in accordance with the laws of the Cayman Islands. At certain times, the fund may not have access to bitcoin, " the application says.
Morgan Stanley admits that each of these funds can transfer up to 25% of its assets to a subsidiary that will invest them in bitcoin or other investments.
In March, it became known about Morgan Stanley's plans to open access to bitcoin to wealthy clients, but the bank will not allow them to concentrate more than 2.5% of the portfolio in the cryptocurrency due to the continuing risks of such investments.
Earlier, a similar application was sent to the SEC by the world's largest asset manager BlackRock. As it turned out on Wednesday, he has already started investing in bitcoin futures.