Morgan Stanley (NYSE:MS)  disclosed a substantial stake in Grayscale’s Bitcoin (available on Coinbase) Trust , totaling nearly $270 million as of March 31, according to a recent 13F filing.

This investment, along with similar disclosures from banking giants like JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC), and UBS (NYSE:UBS), underscores growing institutional interest in cryptocurrency among wealth management clients.

It’s worth noting that these holdings likely represent investments made on behalf of clients, rather than a direct bet on Bitcoin (available on Coinbase) by the banks themselves.

Following the approval of spot Bitcoin (available on Coinbase) exchange-traded funds in January, Morgan Stanley began offering allocations to its clients, albeit on an unsolicited basis. This means that clients had to propose the investment to the broker, reflecting the cautious approach taken by financial institutions towards cryptocurrency investments.

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