BBX Update: On June 5, Morgan Stanley partnered with Galaxy Digital to launch a spot ETP service for converting crypto holdings (including MSBT). Bitdeer sold all 205.3 BTC produced last week, maintaining a zero BTC position. Key Highlights: — Morgan Stanley (NYSE: MS) / Galaxy Digital (NASDAQ: GLXY): Jointly announced on June 5; high-net-worth clients can lend BTC/ETH/SOL in exchange for spot ETP shares (including MSBT), usable as collateral for financing; minimum threshold reduced from $25M to $5M, reducing entry time by 75%; based on SEC approval for physical conversion effective July 2025; MSBT’s first-month AUM reached $239.6 million. — Bitdeer (NASDAQ: BTDR): As of the week ending June 5, all 205.3 BTC produced were sold, resulting in zero net addition; maintained a zero BTC position. The “produce and sell” strategy mitigates downside price risk; BTC price currently ~$60,749. Source: bbx.com
Morgan Stanley and Galaxy Digital Launch Crypto-to-ETF Service; Bitdeer Sells All 205 BTC
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Summary
BTC news today: On June 5, Morgan Stanley and Galaxy Digital launched a service allowing high-net-worth clients to convert BTC, ETH, and SOL into spot ETP shares such as MSBT. The process is 75% faster, with the minimum investment reduced from $25 million to $5 million. MSBT’s AUM reached $239.6 million in its first month. Bitdeer mined 205.3 BTC during the week ending June 5 and sold all of it, maintaining zero BTC holdings to manage price risk.
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