Morgan Stanley Expands Crypto Footprint with 23% Boost in BlackRock ETF

The bank’s holdings in BlackRock’s IBIT reached 16.5 million shares by the end of June, up from 13.4 million in the first quarter. Despite this accumulation of 3.04 million additional shares, the total value of the position slipped from $667 million to $549 million, reflecting a broader downturn in Bitcoin prices over that three-month window. This filing, submitted as a Form 13F, tracks institutional positions rather than proprietary trading, offering a snapshot of assets held by Morgan Stanley and affiliated managers.

Beyond Bitcoin, the bank aggressively diversified its digital portfolio. It increased its stake in BlackRock’s Ether ETF by 202% and initiated new positions in Solana investment products from Grayscale and Fidelity. The firm also expanded its footprint in the stablecoin sector, boosting its ownership of Circle Internet Group shares more than fivefold to 8.32 million. While the bank added stakes in miners like Cipher Digital and Core Scientific, it simultaneously reduced its exposure to Coinbase and CleanSpark, and completely exited its position in Bitfarms. These moves coincide with Morgan Stanley’s broader push into digital asset services, including the recent rollout of crypto trading capabilities for E*TRADE clients.