A platform specializing in deanonymizing crypto transactions says it has uncovered Morgan Stanley’s Bitcoin addresses, which have already accumulated tens of millions of dollars in BTC.
In a new X post, Arkham says the Morgan Stanley Bitcoin Trust (MSBT) has purchased nearly 900 BTC in just one week after the banking titan launched the exchange-traded fund (ETF).
“MORGAN STANLEY IS BUYING BITCOIN
Morgan Stanley is now on Arkham. The MSBT ETF has bought $83.6M of BTC since its inception this week, and currently holds [$65.2M] in its on-chain addresses.”
Arkham’s data shows that MSBT currently holds 874.474 BTC.
On April 8th, Morgan Stanley Investment Management (MSIM) launched MSBT, making it the first US bank-affiliated asset manager to offer a crypto ETP. The fund aims to track the performance of Bitcoin as measured by the CoinDesk Bitcoin Benchmark 4 PM NY Settlement Rate, which is calculated based on an aggregation of executed trade flow from major Bitcoin spot exchanges.
The fund’s unitary delegated sponsor fee is set at 0.14%, currently the lowest Bitcoin ETP sponsor fee among competing products at time of launch.
Coinbase and BNY have been selected to provide digital asset custody services for MSBT. BNY also serves as administrator and transfer agent, providing accounting, recordkeeping, and cash management services for the fund.
Data from crypto analytics firm Coinglass shows that MSBT added 260.43 BTC worth $19.30 million in its holdings today. Overall, Bitcoin spot ETFs witnessed 1,430 BTC outflows to the tune of $105.80 million over the last 24 hours.
Bitcoin is trading at $74,634 at time of publishing.
Disclaimer: Opinions expressed at CapitalAI Daily are not investment advice. Investors should do their own due diligence before making any decisions involving securities, cryptocurrencies, or digital assets. Your transfers and trades are at your own risk, and any losses you may incur are your responsibility. CapitalAI Daily does not recommend the buying or selling of any assets, nor is CapitalAI Daily an investment advisor. See our Editorial Standards and Terms of Use.