Morgan Stanley Bought Again…Is it a signal for additional Bitcoin purchases?

▲ Bitcoin (BTC), Morgan Stanley/ChatGPT generated image ©

A major Wall Street bank has once again pressed the Bitcoin buy button.

According to Finbold, a cryptocurrency media outlet, on April 21 (local time), Morgan Stanley recently purchased an additional 215 BTC of Bitcoin, valued at approximately $16.43 million. This purchase was made through Coinbase Prime, confirming the institution's ongoing cryptocurrency expansion strategy.

With this purchase, Morgan Stanley Bitcoin Trust (MSBT)'s total holdings increased to 1,820.6 BTC, currently valued at approximately $138.1 million. MSBT is the first spot Bitcoin ETF launched by a major US bank on April 8, and it has recorded strong capital inflows since its listing.

In fact, this product recorded inflows of approximately $34 million on its launch day, followed by net inflows of over $100 million in its first week alone. Over six trading days since its launch, approximately $103 million has flowed in, maintaining a stable daily average of around $17 million.

Notably, its low fee of 0.14% is considered a key factor enhancing its competitiveness in the market. While its size is still smaller compared to large products like BlackRock's IBIT, it is rapidly expanding its presence, surpassing WisdomTree's WBTC. It is also narrowing the gap with medium-sized ETFs such as Invesco BTCO, Valkyrie BRRR, and Franklin Templeton EZBC.

Morgan Stanley leverages its network of approximately 16,000 wealth managers to provide investors with a path to access Bitcoin without direct custody. In the market, whether this ETF will establish itself as an inflation hedge and a portfolio diversification asset, and whether it can maintain its initial inflow momentum, are considered key variables for the future.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*