Morgan Stanley Accumulates 232 BTC Amid June Sell-Off

Morgan Stanley's Bitcoin Trust ETF accumulated 232 BTC worth over $15 million between June 15 and June 19, according to on-chain data from Arkham Intelligence. The purchases occurred during a Bitcoin sell-off that pushed the price below $70,000, with BTC trading around $63,130 at press time after a momentary spike above $67,200 around June 15. The accumulation pattern contrasts with broader market trends, as Bitcoin ETFs recorded $2.26 billion in net outflows during June, according to SoSo Value data.

Morgan Stanley Registers 0.14% Fee Bitcoin ETF

Morgan Stanley made headlines in March when it registered its U.S. spot Bitcoin exchange-traded fund with the SEC, setting the management fee at 0.14%. This undercut every major rival: Grayscale's Bitcoin Mini Trust charges 0.15%, while BlackRock's iShares Bitcoin Trust charges 0.25%. An ETF pools investor money to track an asset like Bitcoin and trades on a regular stock exchange, letting people gain exposure without holding the coins themselves. To run the fund, Morgan Stanley tapped Coinbase as prime broker and custodian and BNY for cash and administration.

Coinbase Prime Delivers 232 BTC to Morgan Stanley Trust

On-chain data from Arkham Intelligence shows that between June 15 and June 19, the Morgan Stanley Bitcoin Trust ETF bought 232 BTC worth more than $15 million without a single outflow. Every deposit arrived from Coinbase Prime, the fund's primary custody and prime broker, in steady activity over days. Morgan Stanley's Bitcoin accumulation pattern stands out because June has been punishing for BTC ETFs. As per SoSo Value, June's Bitcoin ETF net outflows during June so far is clocking $2.26 billion at press time.

FAQ

What did Morgan Stanley's Bitcoin ETF do between June 15 and June 19?

Morgan Stanley's Bitcoin Trust ETF purchased 232 BTC worth over $15 million between June 15 and June 19 via Coinbase Prime, with no outflows recorded during this period according to Arkham Intelligence data.

How does Morgan Stanley's Bitcoin ETF fee compare to competitors?

Morgan Stanley's Bitcoin Trust ETF charges a 0.14% management fee, lower than Grayscale's Bitcoin Mini Trust at 0.15% and BlackRock's iShares Bitcoin Trust at 0.25%. The fund was registered with the SEC in March.