Morgan Stanley expanded its cryptocurrency-related exposure in the second quarter, raising its holding in BlackRock’s iShares Bitcoin Trust ETF by 23% to about 16.5 million shares from 13.4 million while increasing positions tied to Ether, Solana and several crypto-linked companies. The bank added roughly 3.04 million IBIT shares, though the reported value of that stake fell to about $549 million on June 30 from around $667 million as Bitcoin prices declined during the quarter. Morgan Stanley also reported 2.57 million shares of Morgan Stanley Bitcoin Trust, valued at about $43.3 million, after the product began trading in April. Ether exposure rose across two funds. Morgan Stanley increased its holding in BlackRock’s iShares Ethereum Trust ETF by about 202% to approximately 4.6 million shares and lifted its position in the Grayscale Ethereum Staking Mini ETF by roughly 26% to about 5.1 million shares. The filing also showed new Solana-related positions worth about $4.25 million in the Grayscale Solana Staking ETF and about $2.26 million in the Fidelity Solana Fund. Outside fund holdings, Morgan Stanley sharply increased its stake in Circle Internet Group, the company behind the USDC stablecoin, to about 8.32 million shares from roughly 1.46 million. It also added to Cipher Digital, Core Scientific, Hut 8 and Bitdeer Technologies, while reducing Coinbase by about 550,000 shares, cutting CleanSpark by more than 3.1 million shares and exiting a previous roughly 8 million-share Bitfarms position. The filing, signed on Aug. 11, covered several related managers and contained 45,905 entries with an aggregate reported value of about $1.89 trillion. As a Form 13F, it shows certain U.S.-listed long positions at quarter-end rather than every transaction or current exposure.