Arkham Flags Morgan Stanley's MSBT Bitcoin ETF Wallets, Enabling Near Real-Time Flow Tracking

Blockchain analytics firm Arkham says it has identified the onchain wallet addresses associated with Morgan Stanley's spot Bitcoin ETF, giving users a way to monitor Bitcoin inflows and outflows linked to the fund with near real-time visibility. Morgan Stanley's Morgan Stanley Bitcoin Trust, trading under the ticker MSBT, began trading on NYSE Arca on April 8. The ETF posted about $34 million in first-day trading volume and grew to roughly $87 million in net assets after five trading days. Arkham said it used internal analytics tools to attribute the relevant blockchain addresses and that its research team validated the identification with a high degree of accuracy. Arkham described this as the first public identification of Morgan Stanley's crypto holdings, adding that its platform is the only venue offering this level of tracking. The firm noted that ETF mechanics still follow traditional settlement conventions. Flows are effectively reflected on a T+1 schedule, meaning onchain transfers typically appear after official ETF flow disclosures. Even with that delay, Arkham said the transfers mirror underlying fund activity. MSBT is priced aggressively, charging a 0.14% management fee. By comparison, BlackRock's iShares Bitcoin Trust (IBIT) charges 0.25%. Morgan Stanley enters a market led by major asset managers, with BlackRock's Bitcoin ETF holding about $57 billion in assets under management. According to the product listing, MSBT is physically backed and seeks to track Bitcoin's price through direct holdings. Coinbase and BNY Mellon are listed as custodians. Investor subscriptions are processed through authorized participants, with cash converted into Bitcoin before the assets are held in custody, tying traditional ETF plumbing to blockchain-based settlement and transparency.