Key facts
- Morgan Stanley increased its stake in BlackRock's Bitcoin ETF (IBIT) by 23% to 16.5 million shares in Q2.
- Morgan Stanley also increased its Ethereum ETF (ETHA) holdings by 202% to 4.6 million shares.
- UBS has increased its Bitcoin holdings and purchased more shares of BlackRock's Bitcoin ETF.
- Morgan Stanley added significant positions in Circle (USDC issuer) and several Bitcoin mining firms.
- Morgan Stanley reduced its holdings in Coinbase and other crypto-linked companies.
Investment banking giant Morgan Stanley reported increased exposure to cryptocurrency funds in the second quarter, with a notable rise in its holdings of BlackRock's iShares Bitcoin Trust ETF (IBIT). The bank's 13F filing revealed a 23% increase in IBIT shares to approximately 16.5 million, despite the position's value decreasing due to Bitcoin's price fluctuations during the quarter. Morgan Stanley also significantly boosted its stake in the iShares Ethereum Trust ETF (ETHA) and initiated positions in Solana-related ETFs. Concurrently, UBS has also increased its Bitcoin holdings and purchased more shares of BlackRock's Bitcoin ETF, signaling a broader trend of institutional adoption. The filings also showed increased investment in Circle, the issuer of the USDC stablecoin, and several Bitcoin mining companies, while holdings in Coinbase and other crypto-linked stocks were reduced.