Morgan Stanley, the major US international investment bank, is establishing a new research division for cryptocurrencies such as bitcoin (BTC) and ethereum (ETH). Bloomberg reported this on September 13:
Morgan Stanley: “The launch of dedicated crypto research is in recognition of the growing significance of crypto currencies and other digital assets in global markets” https://t.co/mh407I6zvq through @crypto
— Bloomberg Crypto (@crypto) September 13, 2021
Morgan Stanley’s new research division will examine the impact of crypto on international fixed income and equities, according to a memo to staff owned by Bloomberg.
The division will be set up in London and will be led by chief analyst Sheenah Shah, currently also head of the G10 FX Strategy division. She will report to James Faucette and Adam Wood, heads of financial technology (fintech) divisions in the United States and Europe.
“The launch of dedicated crypto research is a recognition of the growing importance of cryptocurrencies and other digital assets in global markets.”
According to the Morgan Stanley memo. Morgan Stanley continues to expand into the crypto market. In March this year, the institution became the first major US bank to give its customers access to bitcoin investment products. This was followed by other major US banks such as JPMorgan, which has been allowing its clients to invest in the well-known funds of Grayscale Investments since July.
Morgan Stanley itself bought nearly a million shares of Grayscale’s large bitcoin fund last month; the Grayscale Bitcoin Trust (GBTC). The GBTC shares are equivalent to approximately 700 BTC, valued at approximately $33 million.