Morgan Stanley’s BlackRock Bitcoin ETF holdings jumped 23% in Q2 to 16.5 million shares.
But this isn't a clean bullish signal. While IBIT holdings rose, the position's dollar value fell 18% from $667 million to $549 million as BTC dropped. Morgan Stanley also cut Coinbase shares and exited Bitfarms.
Our read: institutions are using ETFs to buy the dip, but they're also managing risk. They're rotating out of specific mining stocks and directly-held crypto-linked equities. This is a calculated rebalance, not pure accumulation.
Would you buy direct BTC or an ETF right now?
$ETH $BTC
But this isn't a clean bullish signal. While IBIT holdings rose, the position's dollar value fell 18% from $667 million to $549 million as BTC dropped. Morgan Stanley also cut Coinbase shares and exited Bitfarms.
Our read: institutions are using ETFs to buy the dip, but they're also managing risk. They're rotating out of specific mining stocks and directly-held crypto-linked equities. This is a calculated rebalance, not pure accumulation.
Would you buy direct BTC or an ETF right now?
$ETH $BTC