Morgan Stanley has bought Bitcoin for three consecutive days, according to data from Arkham Intelligence, taking its holdings to about $400 million. The buying comes as Bitcoin trades near $64,000 in mixed conditions, leaving analysts weighing whether the bank is showing conviction or simply parking liquidity.
Morgan Stanley has purchased Bitcoin for three consecutive days, according to data shared by Arkham Intelligence, as the bank keeps building its crypto position amid unstable market conditions. The streak follows the firm's launch of its MSTU Bitcoin ETF in April.
Further data shows the bank holds about $400 million worth of Bitcoin, signaling its conviction in the asset despite the market downturn. The firm has also launched the cheapest Ethereum and Solana ETFs, extending its push into crypto products.
With these moves, Morgan Stanley is positioning itself as one of the major crypto ETF-issuing firms, offering institutional investors cost-effective ways into the asset class.
Morgan Stanley's buying comes as Bitcoin hovers around $64,000, slipping in and out of positive territory in mixed trading.
The timing has drawn attention from crypto analysts, who have expressed curiosity about whether the purchases reflect the bank's conviction in Bitcoin or whether it is merely seeking liquidity, sparking debates among market watchers.
Source: U.Today
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