Financial giants serving in the US include Bitcoin in their balance sheets and quarterly reports. Giant companies started to invest in spot Bitcoin ETFs one after another.
Hedge funds like Bracebridge Capital and pension funds like the Wisconsin Investment Board invested in spot Bitcoin ETFs. These investments, which amounted to a large amount, contributed to the rise in the crypto market.
According to CryptoSlate, one of the companies investing in spot Bitcoin ETFs was Morgan Stanley. Banking giant Morgan Stanley invested $269.9 million in Grayscale's GBTC.
Bitcoin move from Morgan Stanley
US-based banking and financial services company Morgan Stanley announced a spot BTC ETF investment in its 13F filing with the SEC in the first quarter. The giant bank chose Grayscale's GBTC to invest in Bitcoin.
Morgan Stanley became the largest GBTC holder after Susquehanna International Group, which has about $1 billion invested.
The US banking giant joined Royal Bank of Canada, JPMorgan, Wells Fargo, BNP Paribas and UBS as banks investing in spot Bitcoin ETFs.
With the opening of Spot Bitcoin ETFs for trading in the US, institutional interest has increased. Crypto experts suggest that this bull cycle in Bitcoin will last longer due to institutional support. According to experts, six-digit levels can be seen in BTC. QCP Capital also stated that BTC could reach $100,000.
