MSBT Amasses $62.2M in Bitcoin as Market Cap Surges by $310B

Morgan Stanley's Bitcoin Trust ETF (MSBT) has been on a buying spree, accumulating significant amounts of Bitcoin over the past few weeks. According to recent data, MSBT recorded a net cash inflow of $3.76 million on September 11 and amassed approximately $62.2 million in total over the last 20 days.

This surge in buying activity coincides with a substantial increase in Bitcoin's market capitalization, which has risen by over $310 billion to $1.57 trillion in just 30 days. As a result, the price of BTC has jumped 24.55% to around $78,520.

In contrast, BlackRock's Bitcoin ETF (IBIT) has seen cash outflows recently, indicating varied investor demand for these funds.

The upcoming U.S. CLARITY Act vote may further impact Bitcoin's price and ETF activity, potentially reigniting bullish momentum if inflows resume across ETFs.