Morgan Stanley is making a mark in the Bitcoin ETF market as it has maintained a long streak of steady Bitcoin purchases regardless of the unstable market conditions.
Following its aggressive Bitcoin accumulation, Morgan Stanley is drawing close to hitting a $1 billion milestone in its Bitcoin ETF as its holdings continue to expand.
Morgan Stanley secures 10,519 BTC
Arkham intelligence firm has shared fresh data revealing that Morgan Stanley’s Bitcoin ETF, dubbed MSBT, now holds about 10,519 BTC after its latest Bitcoin buy.
The source confirmed that Morgan Stanley’s fast-growing Bitcoin stash is now worth about $903.86 million across wallets linked to the fund, within just about five months after it launched.
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At its current level, Morgan Stanley needs to hold less than $100 million worth of Bitcoin to reach the $1 billion milestone.
While Morgan Stanley remains committed to consistently expanding its Bitcoin exposure through its ETF, the fund may achieve the major milestone this month.
Morgan Stanley shows impressive growth
Further data from Arkham shows that Morgan Stanley is growing at an impressive pace, having only traded for about five months since launch.
The source confirmed that Morgan Stanley’s Bitcoin ETF began trading on NYSE Arca in April of this year. As such, Morgan Stanley gained direct exposure to the growing U.S. spot Bitcoin ETF market.
While Arkham was able to publicly identify the addresses associated with the fund within just one week of its launch, market watchers have been able to track the fund’s Bitcoin holdings and monitor changes in its reserves.
Hence, they have confirmed that the fund has amassed nearly $1 billion worth of Bitcoin within just five months.
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