At the end of the second quarter, Goldman Sachs and Morgan Stanley were among the largest investors of spot bitcoin (BTC) ETFs as customers increased their crypto allocations to $4.7 billion.

According to an SEC filing, Goldman Sachs had $418 million in bitcoin for its customers as of June 30. The limited customer allocation follows the bank's wealth management chief investment officer telling the Wall Street Journal in April that customers weren't interested in the asset class.

Morgan Stanley, which apparently recently allowed its dealers to sell bitcoin ETFs, had $188 million in spot funds on June 30, down $87 million from three months earlier.

Both Wall Street giants chose BlackRock's iShares Bitcoin Trust (IBIT), the biggest spot ETF, but they also bought shares in Fidelity's Wise Origin Bitcoin ETF (FBTC), the Invesco Galaxy Bitcoin ETF (BTCO), and others.