Morgan Stanley Bitcoin ETF Buys More Than $25 Million of BTC This Week
JH Kim
Summary
- Morgan Stanley’s spot Bitcoin exchange-traded fund (ETF) bought more than $25 million worth of BTC this week.
- The ETF maintained a net buying stance despite investors’ risk-off sentiment and the market correction.
- Market participants say institutional capital inflows could have a positive effect on Bitcoin supply and demand.
Forecast Trend Report by Period
Morgan Stanley’s spot Bitcoin exchange-traded fund bought more than $25 million worth of Bitcoin this week even as broad selling pressure persisted across the market.
Bitcoin Magazine reported on June 19 that the ETF maintained net purchases despite risk-off sentiment among investors and an ongoing market correction.
The buying suggests institutional investors are sticking to long-term Bitcoin strategies despite short-term price volatility.
Some spot Bitcoin ETFs have recently recorded outflows, but purchases by major institutional investors have continued.
Market participants say institutional inflows could have a positive effect on Bitcoin supply and demand.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
