Morgan Stanley's spot Bitcoin ETF, MSBT, now holds about 10,519 BTC worth roughly $903.86 million, putting the fund within less than $100 million of a $1 billion milestone. The fund has built that position in about five months since its April launch on NYSE Arca, without selling, according to data from Arkham Intelligence.
Morgan Stanley's Bitcoin ETF is closing in on a $1 billion milestone after about five months on the market. The fund has kept buying through unsteady price swings rather than trimming its position.
Morgan Stanley secures 10,519 BTC
Arkham Intelligence reported that Morgan Stanley's Bitcoin ETF, dubbed MSBT, now holds about 10,519 BTC after its latest purchase. The firm confirmed the stash is worth about $903.86 million across wallets linked to the fund.
As a result, Morgan Stanley needs to add less than $100 million worth of Bitcoin to cross the $1 billion threshold. While Morgan Stanley remains committed to expanding its exposure through the ETF, the fund may reach that mark this month.
Morgan Stanley shows impressive growth
Arkham's data shows Morgan Stanley growing at an impressive pace, having traded for only about five months since launch. The firm confirmed that Morgan Stanley's Bitcoin ETF began trading on NYSE Arca in April this year, giving it direct exposure to the growing U.S. spot Bitcoin ETF market.
Arkham identified the addresses tied to the fund within one week of launch, letting market watchers track its Bitcoin holdings and monitor changes in its reserves. Those observers have confirmed the fund amassed nearly $1 billion worth of Bitcoin within five months.
Source: U.Today
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