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Arkham Intelligence has labeled three onchain wallet addresses it says are backing Morgan Stanley’s spot bitcoin ETF, MSBT, which holds 1,348 BTC worth about $102.08 million. The firm says the wallets are connected to MSBT’s custodians, Coinbase and BNY Mellon, and that its live dashboard allows observers to monitor the fund’s bitcoin accumulation in near real time.
MSBT launched on April 8, 2026, on NYSE Arca, making Morgan Stanley the first major U.S. bank to issue a spot bitcoin ETF. Morgan Stanley manages roughly $9.3 trillion in client assets, placing the product in front of traditional finance (TradFi) audiences that previously lacked comparable onchain tracking tools.
Arkham’s in-house analytics team identified three wallet addresses connected to MSBT’s custodians and published verified entity labels on its platform. As of approximately April 18, 2026, the labeled wallets held 1,348 BTC valued at around $102.08 million, based on a bitcoin price in the $75,700 to $76,000 range.
Arkham said it announced the labeling publicly on X, stating that MSBT had purchased $83.6 million worth of bitcoin since inception and held $64.4 million across its onchain addresses at the time of the post. Arkham’s later reporting indicates holdings have increased.
The three labeled addresses use partial public prefixes: bc1qa…, bc1qe…, and bc1qn…. Arkham groups these into a single entity page that shows aggregated balances, inflow and outflow charts, and a full transaction history. The firm also noted it may not have all of Morgan Stanley’s addresses, citing Morgan Stanley’s website, which indicates the firm holds 1,820.60 BTC as of April 17, 2026.
Arkham reported recent inflows including a transfer of 177.757 BTC (about $13.75 million) arriving roughly 23 hours before publication, and a 209.296 BTC deposit (about $15.47 million) recorded three days prior. It also logged multiple other deposits in the 80 to 415 BTC range during the fund’s first two weeks. No significant outflows were reported.
Spot bitcoin ETFs operate on a T+1 settlement cycle, meaning onchain transfers typically appear with about a one-day lag after public creation or redemption announcements. Arkham’s dashboard reflects those flows once the blockchain records the transactions, enabling near real-time visibility after settlement.
MSBT charges an expense ratio of 0.14%, described as the lowest among major U.S. spot bitcoin ETFs. BlackRock’s iShares Bitcoin Trust (IBIT) charges 0.25%.
According to Bloomberg ETF analyst Eric Balchunas, MSBT recorded approximately $34 million in trading volume on its first day and ranked in the top 1% of all ETF launches over the prior year. Net assets reached roughly $87 million after about five trading days.
Arkham published a detailed research article on April 17, 2026, outlining its identification methodology. The firm said its analytics platform now covers more than 450,000 entity pages and billions of address tags across exchanges, governments, asset managers, DeFi protocols, and individual wallets.
Arkham’s labeling provides a live window into a Wall Street institution’s bitcoin accumulation that previously would have required waiting for regulatory filings. Retail and institutional observers can monitor MSBT inflows and outflows from the same screen.
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