<div id="readability-page-1"><div>Arkham Intelligence has identified the on-chain wallets behind Morgan Stanley’s new spot Bitcoin ETF. The bank’s BTC holdings are now publicly traceable in near real time.The Morgan Stanley Bitcoin Trust (MSBT) began trading on NYSE Arca on April 8. It is the first spot Bitcoin ETF issued by a major US bank.Arkham Makes MSBT Holdings VisibleArkham’s blockchain analytics team identified the custodian wallets used by MSBT with high accuracy before verifying them. Users can now monitor BTC inflows and outflows as they settle on-chain.However, traditional finance operates on a T+1 settlement cycle. On-chain confirmations appear one day after allocation decisions are made. That structural lag means wallet data reflects yesterday’s moves, not today’s.Since launch, MSBT has purchased roughly $102.79 million in BTC. On-chain holdings sit at approximately 1,348 BTC.<figure></figure>Bloomberg ETF analyst Eric Balchunas placed the debut in the top 1% of all ETF launches over the past year.Low Fees Target BlackRock’s LeadMSBT charges 0.14% in annual fees, the lowest among US spot Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust charges 0.25% and leads the market with roughly $57 billion in assets under management.Morgan Stanley’s wealth management arm employs around 16,000 advisors overseeing $9.3 trillion in client assets. Even a modest allocation shift toward MSBT could generate substantial inflows over time.Coinbase and BNY Mellon serve as digital asset custodians for the fund. Goldman Sachs and Charles Schwab are reportedly preparing competing crypto products, which suggests further fee pressure may follow.</div></div>

MSBT

Arkham Intelligence has revealed the on-chain wallets for Morgan Stanley's new spot Bitcoin ETF, the Morgan Stanley Bitcoin Trust (MSBT), which began trading on April 8. This ETF is the first of its kind from a major US bank, allowing real-time tracking of BTC holdings. Since its launch, MSBT has acquired approximately $102.79 million in BTC, with current holdings around 1,348 BTC. It features the lowest fees among US spot Bitcoin ETFs at 0.14%. Competing products from Goldman Sachs and Charles Schwab may increase market pressure.

Beincrypto

Morgan Stanley

Morgan Stanley Bitcoin Trust

BlackRock

iShares Bitcoin Trust ETF

Coinbase

Bank of NY Mellon

Goldman Sachs

Charles Schwab

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

BlackRock Tech and Private Equity Term Trust

BLACKROCK MULTI-SECTOR INCOME TR COM USD0.001(S/R 09/09/2025) WI

Blackrock Enhanced Div Achievers Trust

BlackRock Science and Tech Term Trust

BlackRock Multi-Sector Income Trust

BANK OF NEW YORK MELLON CORP DEP SHS REPG 1/4000TH INT SER K PFD

GS Hldg R

SCHWAB(CHARLES)CORP 5.95% DEP SHS REP 1/40 NON CUM PERP PF D

SCHWAB(CHARLES)CORP 4.450% DEP SHS REP 1/40TH N-CUM PFD SERJ

Wall Street’s Biggest Wealth Manager Now Has a Public Bitcoin Wallet