Bitcoin Magazine

Morgan Stanley’s Bitcoin Investment Recommendation Explained w/ Amy Oldenburg

Morgan Stanley became the first global systemically important bank to launch a spot Bitcoin ETP and it crossed $600 million within months of its April debut. Amy Oldenburg, Head of Digital Assets at Morgan Stanley, joins host Spencer Nichols to explain how that product came together, why it was priced below competing spot Bitcoin ETFs, and what still stands between clients and their first Bitcoin allocation. She also details the firm’s 0–4% allocation framework across three investor risk profiles and why Morgan Stanley has no equivalent gold allocation. Plus: whether Bitcoin could land on Morgan Stanley’s own balance sheet.

Host: Spencer Nichols — Bitcoin Magazine
Amy Oldenburg, Head of Digital Assets at Morgan Stanley

Chapters:
0:00 — Morgan Stanley on Putting Bitcoin on Its Own Balance Sheet
1:14 — 26 Years at Morgan Stanley: Emerging Markets to Head of Digital Assets
2:10 — First Major Bank to Launch a Spot Bitcoin ETP Tops $600 Million
3:14 — Education, E-Trade Spot Crypto, and What Clients Actually Own
4:49 — Why Morgan Stanley Priced Its Bitcoin ETP So Low
6:40 — The 0–4% Allocation Framework and the Digital Gold Thesis
8:52 — Correlation Regimes: Digital Gold, High Beta Tech, and Volatility
11:41 — Gold 2.0, Market Cap, and Bitcoin on the Balance Sheet
14:37 — Institutional Market Structure, Quantum Risk, and Client Trust
18:02 — Global Off-Ramps, Tokenization, Stablecoins, and Morgan Stanley Research

DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

This post Morgan Stanley’s Bitcoin Investment Recommendation Explained w/ Amy Oldenburg first appeared on Bitcoin Magazine and is written by Mark Mason.

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Bitcoin Suisse may cut up to 60 Swiss jobs after a Sept. 20 consultation while moving technology and back-office work overseas.

In this week’s edition of the weekly recap, a withdrawal of nearly 4,000 BTC forced Liquid Network to suspend transactions before operators began a limited restart. The U.S. CLARITY Act faced fresh doubts ahead of a Sep. 15 Senate vote,…

U.S. spot Bitcoin ETFs have lost $462.7 million during the September 8–11 trading week, while Ethereum funds have gained $196.9 million and Solana funds have drawn a smaller $9.7 million inflow. Farside Investors’ Bitcoin ETF data shows that the funds…

Bitcoin Suisse has announced plans to cut up to 60 of its 120 positions in Switzerland and close its Copenhagen development site as part of an international reorganization. Bitcoin Suisse puts up to 60 Swiss jobs at risk Reuters reported…

Metaplanet has cut the potential shares tied to its Series 10 stock acquisition rights by 41.1%, reducing the pool from 319.46 million shares to 188.19 million while imposing new exercise restrictions through 2031. Metaplanet said in a Sept. 11 Tokyo…

Kalshi plans to seek U.S. approval for 60 stock and ETF perpetual futures as regulators dispute how equity-linked perps should be governed.

Bitwise will close its BWOW Dogecoin ETF, end NYSE Arca trading on Oct. 14 and distribute cash to remaining holders on Oct. 22.

Ripple’s stablecoin has grown 1,278% this year while XRP shed more than a quarter of its value. The network is busier than ever, but the token capturing that activity has a dollar sign and a peg. The numbers tell two…

XRP ETFs drew nearly $2 million as a Schwab fund disclosed $11.39 million of ETF shares securing Wall Street repo agreements.

Bitcoin’s deepest current-cycle loss was about 50%, but its rebound near $79,200 leaves it roughly 37% below the October 2025 record.

The Canary Staked TRX ETF has begun its U.S. market debut under the ticker TRXS, giving investors exposure to TRON’s native token while incorporating rewards earned from staking. According to recent reporting, the Canary Capital product is set to start…

Zcash price traded near $1,197 on Sept. 7 after gaining roughly 43% over the week, as its breakout above $1,000, ETF demand, and short liquidations fueled the rally. Zcash price holds above $1,190 after 43% rally According to data from…

Japan’s new crypto law and SHIB’s wider exchange access support its standing, but no Japanese regulator has approved a Shiba Inu ETF.

U.S. spot XRP ETFs extend their inflow streak, while unverified FTMINING income claims raise questions about cloud-mining risks.

One billion tokens hit the open market on September 1. Instead of dumping, XRP rallied. The monthly escrow release that once spooked retail traders has become background noise for an asset that just logged its strongest on-chain quarter in years.…

Bitcoin Magazine

El Salvador Isn’t Buying Bitcoin With Public Money, Says IMF 

El Salvador has not used public funds to accumulate bitcoin since the International Monetary Fund’s last review of its loan program, the fund said Thursday. 

In a report Thursday, the body said that the Central American country had instead received bitcoin from private donations, citing documentation from the government. It added that “no further Bitcoin accumulation beyond the documented donations is expected.”

El Salvador made headlines in 2021 when it became the first country in the world to make bitcoin legal tender. Salvadoran president Nayib Bukele in 2022 said the country would buy one bitcoin per day but it was never clear where the money was coming from — or if he was actually buying at all. 

Gradually, then suddenly… https://t.co/hmdMLRZioh

— Nayib Bukele (@nayibbukele) September 3, 2026

“Documentation has been provided verifying that Bitcoin accumulation since the first review reflects private donations and that no public resources were used,” the IMF release said. 

“Understandings were also reached on steps to modernize the legal, regulatory, and supervisory framework for digital assets and to further strengthen the governance and risk-management arrangements for public-sector crypto-asset holdings. Going forward, no further bitcoin accumulation beyond the documented donations is expected.”

The report added that public participation in the government-sponsored bitcoin wallet has been largely wound down, with majority ownership and operational control handed to a private operator. 

El Salvador in 2021 debuted a state-sponsored wallet called Chivo for its citizens as part of its plan to increase bitcoin adoption in the country. 

“IMF staff thank the Salvadoran authorities for the constructive discussions and excellent collaboration,” the report added. 

The IMF El Salvador entered a $1.4 billion loan agreement at the end of December but the fund asked for the country to scale back certain aspects of its bitcoin strategy. 

Institutions like the World Bank and the IMF have long criticized President Bukele’s Bitcoin law, which also asked businesses to accept the cryptocurrency if they had the technological means to do so. 

President Bukele in 2024 admitted that Salvadorans weren’t using the cryptocurrency to buy things as expected, but always boasted that the government was still stacking sats. 

Since launching a crime crackdown to tackle the country’s notorious crime gangs, murder rates in El Salvador have plunged. The country was once the most dangerous place in the Americas but President Bukele is now trying to turn it into a tech hub. 

Crypto companies like Tether have since relocated to its capital, San Salvador. 

This post El Salvador Isn’t Buying Bitcoin With Public Money, Says IMF  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

U.S. spot Bitcoin ETFs recorded $142 million in net inflows as September trading opened, giving Bitcoin traders a positive flow signal after the previous session’s outflow broke a multi-day streak.

The inflow shows that regulated Bitcoin demand remains active, even after a choppy end to August. ETF flows have become one of the cleanest indicators of traditional-market appetite for BTC, and a positive start to September gives the market something fresh to watch.

It does not mean demand is guaranteed to continue.

But it does show that the outflow narrative did not immediately become a deeper trend.

For more details, visit the official Farside platform.

TL;DR

• U.S. spot Bitcoin ETFs posted $142 million in net inflows.
• The inflows came as September trading opened.
• This is a daily flow signal, not a measure of total ETF demand.

Why The Rebound Matters

Bitcoin ETF flows can shift market mood quickly.

When the products take in money, traders often see that as support from regulated investors. When they lose assets, short-term sentiment can weaken. That is especially true because ETF flow data is visible, simple, and widely tracked.

After the August 28 outflow session, the market needed to see whether demand would recover.

The September opener answered that with a positive daily print.

That does not erase volatility. It simply shows that the next session brought buyers back into the ETF channel.

ETFs Are Now Part Of Bitcoin’s Market Structure

Spot Bitcoin ETFs changed how BTC trades.

They created a regulated path for investors who do not want to self-custody, use crypto exchanges, or manage wallets. That opened Bitcoin to advisers, institutions, retirement-linked portfolios, and traditional brokerage accounts.

Because of that, ETF flows now sit alongside exchange volume, futures positioning, on-chain data, miner behavior, and macro conditions as a key market signal.

A $142 million inflow is not just a fund statistic. It is evidence of demand moving through one of Bitcoin’s most important access points.

Daily Data Still Needs Care

The market should not overread one day.

ETF flows can be affected by portfolio rebalancing, basis trades, fund-specific movements, profit-taking, macro positioning, or timing around month-end. A single positive session does not guarantee a strong week or month.

The trend matters more than the print.

If inflows continue, Bitcoin may regain one of its clearest short-term support narratives. If flows turn mixed again, traders may become more cautious.

Bitcoin Still Trades On More Than ETFs

ETF flows are powerful, but they are not the whole market.

Bitcoin also reacts to macro liquidity, the dollar, Treasury yields, corporate treasury demand, exchange liquidity, long-term holder behavior, and derivatives positioning. ETFs can support sentiment, but they do not control every move.

Still, in the current market, they matter a lot.

The reason is simple: they show how traditional capital is behaving in real time.

The September Signal

Bitcoin opened the month with renewed ETF demand.

That is the most useful takeaway from the $142 million inflow figure. It suggests that the August outflow did not immediately scare regulated buyers away from the asset.

The next test is persistence.

If the ETF channel keeps adding capital, Bitcoin traders may regain confidence that institutional demand remains a tailwind. If the data turns negative again, September may start with a more mixed signal.

For now, the flow turned positive when the new month began.

This article draws on U.S. spot Bitcoin ETF flow data from Farside Investors.

This article was written by the News Desk and edited by Samuel Rae.

This report is based on information released by Farside. at Farside

U.S. spot Solana ETFs recorded $925,000 in net daily inflows as September trading opened, giving SOL markets a fresh regulated-demand signal after a strong August.

The figure is modest compared with larger Bitcoin and Ethereum ETF flow days, but it still matters. Solana funds are at an earlier stage of market development, and even smaller daily inflows can help show whether regulated investors are building interest in SOL exposure.

For traders, the key point is not the size alone. It is the direction.

Money moved into the products at the start of a new month, suggesting that Solana’s institutional access story remains active.

For more details, visit the official Farside platform.

TL;DR

• U.S. spot Solana ETFs recorded $925,000 in net daily inflows.
• The inflows came as September trading opened.
• The number is a daily flow figure, not total AUM or cumulative demand.

Solana ETF Demand Is Still Developing

Bitcoin ETFs have already become a central part of crypto market structure.

Ethereum ETFs are also building a clear institutional channel. Solana ETFs, by comparison, remain a newer and more closely watched category. The market is still trying to understand how much demand exists for regulated SOL exposure.

That makes daily flow data important.

It gives investors a direct read on whether capital is moving into or out of the products. A $925,000 inflow is not huge, but it is positive. After Solana’s strong August rally, that matters because traders want to know whether momentum is being supported by regulated demand or mostly by spot-market rotation.

Why The Timing Matters

September’s opening sessions can set the tone for the month.

Traders often reassess positioning after month-end. Funds may adjust exposure. ETF flows can show whether investors are leaning into a trend or taking profits after a strong move.

For Solana, the inflow follows a period of renewed attention around the network, its ecosystem, and its market performance.

That makes the ETF data useful.

It suggests that at least some investors are willing to keep adding SOL exposure rather than stepping away after August’s move.

Keep The Number In Context

The inflow should not be overstated.

A single daily print does not prove sustained institutional adoption. It does not guarantee continued SOL strength. It does not say anything about total long-term demand unless it becomes part of a longer pattern.

Daily ETF flows can reverse quickly.

The more important question is whether Solana funds can produce consistent inflows across several sessions and whether those flows deepen as more investors become comfortable with the product category.

Solana’s Institutional Case

Solana’s appeal to investors comes from several angles.

The network offers high throughput, low fees, an active developer base, strong retail recognition, DeFi activity, memecoin liquidity, and growing institutional interest. ETF access can package that exposure in a more familiar format for investors who do not want to hold SOL directly.

That wrapper matters.

It can move Solana from exchange-native trading into brokerage and portfolio channels.

The Market Signal

The $925,000 inflow is a small but positive data point.

It tells traders that Solana ETF demand did not disappear as the new month opened. It also gives the market another figure to compare against Bitcoin and Ethereum ETF flows.

For now, Solana’s regulated-access story remains intact.

The next few sessions will decide whether this was a quiet positive start or the beginning of a stronger September flow trend.

This article draws on U.S. spot Solana ETF flow data from Farside Investors.

This article was written by the News Desk and edited by Samuel Rae.

This report is based on information released by Farside. at Farside

Bitcoin Magazine

BlackRock’s iShares Bitcoin Trust Is Beating Top S&P 500 ETF 

BlackRock’s iShares Bitcoin Trust exchange-traded fund has delivered better returns since its 2024 launch than Vanguard’s popular S&P 500 fund. 

That’s according to Bloomberg data highlighted by the firm’s senior ETF analyst, Eric Balchunas, who said that the BlackRock product’s cumulative percentage return was only slightly ahead of Vanguard’s in the time period. 

BlackRock’s bitcoin ETF is up 71% since its January 2024 debut, while Vanguard’s S&P 500 ETF up 66% on a total-return basis.  

Hard to believe $IBIT is beating $VOO since inception but it's true..altho it's close. And to be fair, IBIT's path to 70% looks like the El Toro roller coaster at Great Adventure (i needed two Advil last time I rode that thing) while $VOO was a walk in the park in comparison.… pic.twitter.com/vpOgI7JZKL

— Eric Balchunas (@EricBalchunas) September 1, 2026

The iShares Bitcoin Trust — IBIT — started trading in 2024 after the Securities and Exchange Commission gave the green light to 11 spot bitcoin ETFs following a decade of denials. 

“IBIT’s path to 70% looks like the El Toro roller coaster at Great Adventure (I needed two Advil last time I rode that thing) while $VOO was a walk in the park in comparison,” wrote Balchunas on Tuesday. 

U.S. investors now have several funds to choose from to buy shares that track the price of bitcoin managed by the likes of Fidelity, Grayscale and Morgan Stanley. But BlackRock’s product is the most successful: It currently manages $61.4 billion in assets, according to its website. 

By comparison, the second biggest bitcoin ETF, the Fidelity Wise Origin Bitcoin Fund, manages nearly $11 billion. 

BlackRock, which manages over $15 trillion in assets, sent shockwaves through the crypto space after it applied for a spot bitcoin ETF in 2023. Its fund now allows more traditional investors to get exposure to bitcoin; its product also experiences more day-to-day trading action than the other ETFs. 

Investors piled back into ETFs in August, which has also helped bitcoin’s price. From August 17 to 27, investors threw over $2.8 billion at the vehicles — the most since October, when the coin hit a new all-time high. 

Bitcoin reached as high as $81,281 last week before sliding again on Friday. 

The price of the biggest cryptocurrency recently stood at $77,539, nearly down 1% over a 24-hour period. 

Bitcoin started a phenomenal run two weeks ago — its best in three years — and is up nearly 30% over the past month. 

This post BlackRock’s iShares Bitcoin Trust Is Beating Top S&P 500 ETF  first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.