Morgan Stanley unveiled a significant $269.9 million investment in spot Bitcoin ETFs, focusing on Grayscale’s GBTC, in its first quarter 13F disclosure.

This move places Morgan Stanley among the top holders of GBTC, trailing behind Susquehanna International Group’s leading $1.0 billion investment.

Joining a league of Global Systemically Important Banks (G-SIBs), Morgan Stanley stands alongside other major players like the Royal Bank of Canada, JP Morgan Chase, and Wells Fargo, signaling growing institutional interest in the crypto space.

The disclosure frenzy didn't stop there. Pine Ridge Advisers revealed a $205.8 million investment in various spot Bitcoin ETFs, while Boothbay Fund Management disclosed a $377 million exposure across multiple ETFs.

Additionally, firms like Aristeia Capital LLC, Graham Capital Management, CRCM LP, and Fortress Investment Group LLC also entered the fray, contributing to the growing momentum in Bitcoin ETF investments.

These filings, arriving at the deadline for first-quarter 13F reports, coincide with the period marking the accessibility of most spot Bitcoin ETFs to investors. Bitwise CIO Matt Hougan anticipates a staggering influx of institutional investments, estimating that over 700 professional firms would have invested nearly $5 billion by the May 15 deadline.

Hougan likened this surge to the historical launch of gold ETFs in 2004, underlining the monumental scale of professional investor ownership. Despite this institutional wave, retail investors continue to play a significant role, maintaining a substantial portion of the $50 billion assets under management in spot Bitcoin ETFs.