The investment funds of the major US investment bank Morgan stanley have increased their exposure to Bitcoin by buying shares of the Grayscale’s Bitcoin Trust.

According to a presentation before the Securities and Exchange Commission from the United States on Tuesday, The Morgan Stanley Insight Fund increased its holdings of shares in Grayscale’s Bitcoin Trust, or GBTC, more than 63%, from 928,051 in the second quarter of 2021 to 1,520,549 as of September 30. What’s more, Documents from the firm’s Growth Portfolio show that it owned 3,642,118 GBTC shares in the third quarter of 2021, an increase of 71% compared to 2,130,153 shares in the second quarter. The Morgan Stanley Global Opportunity Portfolio held 1,463,714 GBTC shares, a 59% increase from 919,805 shares in the three months.

At the time of writing, GBTC’s price is $ 45.72, making the banking institution’s exposure to Bitcoin (BTC) through these three funds approximately $ 303 million with 6,626,381 shares as of September 30. The price of BTC was below $ 50,000 for much of September, but the cryptoasset has since hit a new all-time high of $ 69,000 before falling back to $ 56,000.

The respective portfolios and funds allow Morgan Stanley to gain exposure to Bitcoin (BTC) without directly investing in the cryptocurrency. Cointelegraph reported in September that the firm’s Europe Opportunity Fund, which invests in established and emerging companies across the European region, more than doubled its GBTC shares since April. However, the fund has not reported additional exposure to BTC as of press time.

Whether it is investing indirectly through Grayscale or supporting blockchain platforms, Morgan Stanley appears to be entering the cryptocurrency sector. In September, the company announced that it would create a research division with the aim of exploring the “growing importance of cryptocurrencies and other digital assets in global markets.”

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