Morgan Stanley Bitcoin ETF Buys More Than $25 Million of BTC This Week
Summary
- Morgan Stanley’s spot Bitcoin exchange-traded fund (ETF) bought more than $25 million of BTC this week.
- The ETF maintained a net-buying trend despite investors’ move away from risk assets and the market’s recent correction.
- Market participants say institutional inflows could have a positive effect on Bitcoin supply and demand.
Morgan Stanley’s spot Bitcoin exchange-traded fund bought more than $25 million of Bitcoin this week even as selling pressure persisted across the broader market.
Bitcoin Magazine reported on June 19 that the ETF maintained net buying despite investors’ shift away from risk assets and the market’s recent correction.
The purchases suggest institutional investors are sticking with long-term Bitcoin strategies despite short-term price swings.
Some spot Bitcoin ETFs have recently posted outflows, but buying by major institutional investors has continued.
Market participants say institutional inflows could have a positive effect on Bitcoin supply and demand.
reporter1@bloomingbit.ioHello, I'm a reporter at bloomingbit
