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- Morgan Stanley has continued to increase its list of Bitcoin focused funds
- A Wednesday filing with the SEC revealed that the firm has listed its fourth fund
- Previous funds had helped the bank to attract $29.4 million worth investment making funds one of its kind
- Following the listing in such a scenario where the prices have stumbled it seems that the demand for BTC has not vanished
Morgan Stanley claims itself to be the true global investment banks. The bank helps people, government, and institutions to raise, manage and distribute capital. Earlier this year, the bank was first of its kind to have announced plans related to Bitcoin. The bank planned to offer its wealthiest clients gain exposure to Bitcoin. Since then the firm has listed three funds for its clients. However, on Wednesday, the bank listed its other BTC-focused fund.
Morgan Stanley listed FS NYDIG Institutional BTC fund
Since Morgan Stanley planned to offer Bitcoin trading to its wealthiest clients, the bank has listed three funds focused on Bitcoin. Among the three funds, two of them were from Galaxy Digital Holdings Ltd, Mike Novogratz’s cryptocurrency investment firm. Notably, the third Bitcoin-focused fund was a joint effort by FS Investment firm and NYDIG.
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However, on a Wednesday filing with the United States Securities and Exchange Commission (SEC) it was revealed Morgan Stanley has listed another fund. Indeed, the fund remained the fourth one of its kind focused on Bitcoin. The FS NYDIG Institutional Bitcoin Fund LP has listed its recipient as the bank’s name.
Is the listing of the fourth fund significant?
Morgan Stanley has attracted a fair $30 million worth of investments in just two weeks after listing its BTC-focused funds in April. According to the latest filings we observed that the bank has seen 322 investors pooling together $29.4 million worth funds. Indeed, the fund has been considered as one of the largest funds in terms of investors count.
However, the recent addition to the list of funds in such a scenario when the market sentiment is shakened, it seems demand still exists.
Bitcoin price performance
At press time the flagship digital assets were trading at the level of $37k. Notably, earlier after the news was revealed the coin was trading bullishly. Notably, some celebrity words also had helped the coin to gain a short-term bullish sentiment. It is also observed that several hodlers had not sold the coins near the $40 level. Indeed, few retail investors were also observed hodling the coin. Despite the current scenario and performance, experts are bullish on Bitcoin over the longer period of time.
