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Morgan Stanley Files For BTC Products


In a March 31, 2021, filing, Morgan Stanley revealed that a number of its institutional funds are seeking to offer exposure to bitcoin. This exposure would be indirectly through cash-settled futures or through investments in the Grayscale Bitcoin Trust (GBTC).

“Certain Funds may have exposure to bitcoin indirectly through cash settled futures or indirectly through investments in Grayscale Bitcoin Trust (BTC) (‘GBTC’),” per the filing. “To the extent a Fund invests in bitcoin futures or GBTC, it will do so through a wholly-owned subsidiary… Certain Funds may engage in futures contracts based on bitcoin. The only bitcoin futures in which a Fund may invest are cash settled bitcoin futures traded on futures exchanges registered with the CFTC.”

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