Banking giant Morgan Stanley acquired nearly 1,000 BTC over the past two weeks, taking its total holdings to 5,761 BTC, worth roughly $370 million.
According to data from Arkham, the bank added BTC to its existing stash during the market pullback through its spot Bitcoin investment product.
Morgan Stanley Adds To Bitcoin Stash
Morgan Stanley added to its Bitcoin holdings during the recent market pullback. The banking giant currently holds 5,761 BTC, making it one of the biggest institutional holders of the flagship cryptocurrency.
The acquisition was executed through a series of transfers instead of a single purchase. Arkham data shows large transfers from Coinbase Prime wallets. The transaction history also includes a 1 BTC transfer back to Coinbase Prime along with minor operational transfers.
The inflows originated from Coinbase Prime custody and deposit addresses, indicating the transfers were completed via Morgan Stanley’s spot Bitcoin investment product.
Buying The Dip
Arkham classifies Morgan Stanley as a fund, an exchange-traded product, and a Bitcoin whale. It has also linked the banking giant’s portfolio to 11 wallet addresses. The latest round of purchases is in line with Morgan Stanley’s strategy of accumulating during price dips.
However, Arkham or Morgan Stanley have not disclosed whether the purchases are direct purchases, client subscriptions, or operational inflows into its investment vehicle. Arkham has also not identified the underlying investors or whether the assets are being managed on behalf of clients or are firm-based holdings.
Morgan Stanley Increasing Its Crypto Footprint
Morgan Stanley Wealth Management recently announced a partnership with Galaxy Digital to expand its digital asset footprint. Under the partnership, high-net-worth individuals can lend their digital assets, including Bitcoin (BTC), Solana (SOL), and Ethereum (ETH), to Galaxy Digital in return for shares in spot crypto investment products, including the Morgan Stanley Bitcoin Trust. The program allows investors to gain crypto exposure in a regulated environment without selling their digital assets.
Morgan Stanley and Galaxy Digital claim the partnership also reduces the in-kind crypto-to-exchange-trading product onboarding times by 75%. The offering is part of a growing trend of on-chain accumulation as institutional interest and participation rise.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
