Morgan Stanley has continued to expand its Bitcoin position as its MSBT fund sees sustained inflows amid growing demand from its customers.
Following this sustained growth in the bank's Bitcoin venture, Morgan Stanley is on path for a major milestone as its Bitcoin holdings are now past $609 million.
Morgan Stanley buys $62.2 million of Bitcoin
Recent data from the Arkham Intelligence firm shows that Morgan Stanley's MSBT fund has continued to attract steady inflows despite Bitcoin's unstable market conditions.
After maintaining consistent purchases in the past week, the firm bought about $3.8 million worth of BTC on Friday, marking its fourth consecutive day of inflows.
With its consistent purchases in the past weeks, the latest capital that flowed into the fund has seen MSBT record total inflows of $62.2 million over the past 20 trading days.
Nonetheless, the source confirmed that the fund did not register a single day of outflows during an 11-day stretch of steady inflows during the period.
This suggests that the Morgan Stanley Bitcoin fund is rapidly gaining a foothold in the Bitcoin ecosystem amid sustained demand and accumulation from its investors.
What about BlackRock?
Although BlackRock still maintains dominance in the Bitcoin investment sector, it recorded a negative performance during the Bitcoin ETFs' latest daily trading session.
Unlike Morgan Stanley, BlackRock recorded about $19.2 million in Bitcoin outflows on the same Friday. This has stirred speculation that Morgan Stanley continued accumulating Bitcoin while major institutional Bitcoin firms saw investors pull capital.
Dan Burgin
U.Today Editorial Team
