Morgan Stanley Adds Nearly 1,000 BTC, Tracked Holdings Rise to 5,761 BTC

Morgan Stanley has quietly accumulated close to 1,000 Bitcoin over the past two weeks, lifting its tracked onchain holdings above 5,700 BTC, according to blockchain intelligence firm Arkham. Arkham's latest portfolio snapshot shows the bank now controls 5,761 BTC, valued at about $369.9 million at current onchain prices, placing it among the larger institutional Bitcoin holders monitored on the platform. Rather than a single high-profile purchase, the increase appears to have been built through a series of transfers during the recent market pullback—a pattern Arkham characterizes as "buying the dip." Transaction records indicate Coinbase Prime as the main source of inflows. Over the period, Arkham flagged several sizeable deposits: 495.8 BTC, 171.9 BTC, 166.2 BTC, 154.8 BTC, 143.3 BTC, 126.1 BTC, 120.4 BTC, plus another 34.4 BTC within the last 14 hours. After accounting for smaller operational movements, including a 1 BTC transfer back to Coinbase Prime, Arkham estimates the net increase at roughly 1,000 BTC. Arkham links the portfolio to 11 tracked wallet addresses and categorizes the entity as a fund, an exchange-traded product and a Bitcoin whale. The firm notes its data does not specify whether the transfers reflect direct purchases by Morgan Stanley, client subscriptions into a spot Bitcoin product, or other operational flows tied to the vehicle. Still, the staged pattern and Coinbase Prime routing point to institutional settlement activity connected to the firm's spot Bitcoin offering. The accumulation follows a June announcement from Morgan Stanley Wealth Management outlining a referral arrangement with Galaxy Digital. Under the program, eligible high-net-worth clients can lend cryptocurrencies such as Bitcoin, Ether and Solana to Galaxy in exchange for shares in spot crypto investment products, including the Morgan Stanley Bitcoin Trust. The structure is designed to let clients shift crypto exposure into regulated vehicles without first selling their assets. Morgan Stanley and Galaxy say the approach can accelerate in-kind onboarding to exchange-traded products by as much as 75% compared with conventional processes. Arkham said the latest onchain activity underscores broader institutional momentum in spot Bitcoin products, while cautioning that wallet-level attribution ties assets to Morgan Stanley's Bitcoin product but does not identify the underlying investors or distinguish firm-owned holdings from assets managed for clients.