Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Rakin343 on September 06, 2022, 03:37:36 AM
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Last year, as the Bitcoin bull market raged to parabolic highs, funds owned by Morgan Stanley began buying shares of Grayscale Bitcoin Trust (GBTC) in relatively large volumes. At one point, funds managed by Morgan Stanley owned as much as 13 million GBTC shares. Morgan Stanley funds currently hold around 11 million shares at a loss of at least 33%.
The firm began buying GBTC in 2019 but bought the majority in last year’s bull market. Some of the investment company’s funds have also recently sold some of their GBTC at a loss. Indeed, funds managed by Morgan Stanley which hold GBTC are all down this year with Morgan Stanley Insight Fund Cass A down more than 50%.
The fund started the year with 1,734,013 shares and sold 332,627 at the start of the bear market. It then sold 183,457 shares at a loss in the second quarter, ending with 1,217,929 GBTC shares. source (https://cryptonews.net/11895841/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)