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According to Arkham monitoring, Morgan Stanley's spot Bitcoin exchange-traded fund MSBT has once again increased its holdings by 74.536 BTC, worth 5.93 million dollars.As of now, its total Bitcoin holdings have reached 3,389 BTC, worth 273 million dollars.

JPMorgan analysts pointed out in their latest report that although the overall cryptocurrency market has recovered after the Iran conflict, Ethereum and other altcoins continue to underperform compared to Bitcoin. The analyst team led by Managing Director Nikolaos Panigirtzoglou stated that this trend, which began in 2023, "is unlikely to change unless we see meaningful improvements in network activity, DeFi, and real-world applications."The analysts noted that since the conflict triggered a market sell-off, Bitcoin's recovery in spot ETF fund flows and institutional futures positions has outperformed Ethereum. The spot Bitcoin ETF has recovered about two-thirds of the previous outflows, while the spot Ethereum ETF has only recovered about one-third. CME futures positions also indicate that institutional investors are rebuilding their Bitcoin exposure more aggressively than Ethereum.Regarding the upcoming Ethereum upgrades (Glamsterdam and Hegota), analysts questioned whether they would be sufficient to improve ETH's relative performance. Upgrades over the past three years have primarily reduced Layer 2 transaction costs, which has weakened the Ethereum network's fee generation and token burn mechanisms, leading to an accelerated net supply growth and weakened price support. Whether the new upgrades can generate enough new demand and network activity remains to be seen.For altcoins, analysts believe that since 2023, weak liquidity conditions, low market depth and breadth, limited growth in DeFi activity, and recurring hacking and security incidents have collectively eroded market confidence and hindered the deployment of new capital.

According to The Block, JPMorgan analysts have stated that despite the overall recovery of the cryptocurrency market following the Iran conflict, Ethereum and altcoins continue to underperform Bitcoin. The analysts believe that unless there is a substantial improvement in network activity, DeFi, and real-world applications, this trend that began in 2023 is unlikely to change.The analysts pointed out that the spot Bitcoin ETF has recovered about two-thirds of the previously withdrawn funds, while the spot Ethereum ETF has only recovered about one-third. CME futures positions indicate that institutions are rebuilding their Bitcoin exposure more aggressively than Ethereum, with Bitcoin futures positions nearly fully restored, while Ethereum futures positions remain below previous levels.The analysts also questioned whether the upcoming Ethereum upgrade could effectively boost network activity. They noted that upgrades over the past three years have primarily reduced Layer 2 transaction costs, leading to lower Ethereum network fees, a weakened token burn mechanism, and accelerated net supply growth, which has undermined ETH's price support.Regarding altcoins, the analysts pointed out that poor liquidity, insufficient market depth, limited growth in DeFi activity, and repeated hacking incidents have eroded confidence and hindered the allocation of new capital.

JPMorgan analysts stated that despite the overall recovery of the cryptocurrency market after the Iran conflict, Ethereum and other altcoins continue to underperform Bitcoin. This trend, which has formed since 2023, may be difficult to reverse in the short term unless there is a significant improvement in network activity, DeFi, and real-world applications.The report pointed out that, based on spot ETF fund flows and institutional futures positions, the recovery of Bitcoin is stronger than that of Ethereum. The spot Bitcoin ETF has recovered about two-thirds of the previous outflows, while the spot Ethereum ETF has only recovered about one-third. At the same time, CME futures data shows that institutional investors are more actively rebuilding their exposure to Bitcoin, with Bitcoin futures positions nearly fully restored, while Ethereum futures positions remain below previous levels.JPMorgan believes that the relative weakness of ETH and altcoins against Bitcoin may continue due to the lack of stronger on-chain fundamentals and real-world application support.

According to Cointelegraph, the 13F filing shows that JPMorgan significantly increased its Bitcoin ETF holdings in the first quarter, with its position in the BlackRock iShares Bitcoin Trust (IBIT) rising from approximately 3 million shares to 8.3 million shares, an increase of 174%.In addition, JPMorgan also significantly increased its holdings in other Bitcoin spot ETFs such as Fidelity FBTC and Bitwise BITB, while slightly increasing its position in Strategy (MSTR).Regarding altcoin ETFs, JPMorgan's actions varied: it made its first purchase of the Bitwise Solana Staking ETF (BSOL), increased its holdings in Ethereum-related ETFs, while completely liquidating its XRP ETF.

According to Jinshi News, JPMorgan stated that investor panic is rapidly escalating, and many clients have turned fully bearish on the stock market. Despite the pessimistic market sentiment, JPMorgan's traders still advise clients to remain calm amid market volatility and not to panic.

According to Arkham monitoring, Morgan Stanley's spot Bitcoin ETF MSBT has increased its holdings by 321.08 BTC, worth approximately $25.81 million.As of now, the total Bitcoin holdings of MSBT have reached 3,314 BTC, worth approximately $266 million.

According to Jinshi reports, Morgan Stanley has raised its S&P 500 index target for the end of 2026 to 8,000 points, up from the previous target of 7,800 points.

According to BBX data, this week (as of May 12), Bitcoin corporate reserves continue to expand, and institutional-level ETF product monthly performance data has been released. The core dynamics are as follows:Strategy, Inc. (NASDAQ: $MSTR) submitted Form 8-K to the SEC on May 11, disclosing that the company purchased an additional 535 BTC, totaling approximately $43 million, with an average price of about $80,340; as of May 11, the total holdings increased to 818,869 BTC, with a total acquisition cost of approximately $61.86 billion (average price $75,540), and a BTC yield of 9.4% since the beginning of 2026. Of the funds used for this round of purchases, $42.9 million came from MSTR ATM equity financing, and $1 million came from the STRC preferred stock program; this purchase of 535 BTC is significantly lower than last month's peak (an increase of 34,164 BTC in the week of April 13-19), but it still maintains the purchase after the company's Q1 financial report hinted at the possibility of selling BTC to pay dividends, thereby endorsing the "firm holding" position with actual actions.Morgan Stanley (NYSE: $MS) launched the Morgan Stanley Bitcoin Trust (NYSE Arca: $MSBT) on April 8. According to a report by CryptoSlate on May 10, $MSBT recorded zero net redemptions in its first full trading month after launch, with assets under management maintaining positive growth from the first day; meanwhile, the overall U.S. Bitcoin spot ETF has recorded net positive inflows for six consecutive weeks, with a cumulative net inflow of $2.44 billion in April, and daily average inflows continuing to be positive since May. $MSBT entered the market with a management fee rate of 0.14%, making it the lowest fee Bitcoin spot ETF currently available; the zero net redemption data for the first month marks the establishment of preliminary stable demand for this product among Morgan Stanley's wealth management client network, interpreted by institutional analysts as an early signal of large-scale access to the Bitcoin ETF ecosystem through traditional wealth management channels.

JPMorgan Chase will launch its second tokenized money market fund based on Ethereum, named OnChain Liquidity-Token Money Market Fund, with the code JLTXX. The fund will primarily invest in U.S. Treasury securities, as well as overnight repurchase agreements collateralized by U.S. Treasury securities or cash, aiming to meet the qualified reserve asset requirements that stablecoin issuers must maintain under the GENIUS Act.JPMorgan Chase stated that the fund's blockchain technology will be managed by its subsidiary Kinexys Digital Assets. Currently, Ethereum is the only on-chain network available to investors, and there is a possibility of expanding to other blockchains in the future. This is also JPMorgan Chase's second tokenized money market fund on Ethereum following the launch of MONY last year. Compared to MONY, which is more focused on institutional on-chain cash management, JLTXX is more directly aimed at the stablecoin reserve asset scenario.

According to Jinshi News, Matt Hornbach, the global macro strategy chief at Morgan Stanley, stated that the U.S. inflation data for April is expected to be quite "hot," which will be the first in a series of data this week and will ultimately constitute the core PCE price index that the Federal Reserve is most concerned about.Hornbach pointed out that companies may not necessarily pass on inflationary pressures to consumers, and currently, companies are facing pressures such as rising energy costs and the costs of building AI infrastructure. Therefore, the bank still predicts that the Federal Reserve will maintain interest rates unchanged this year.

According to The Block, Morgan Stanley Bitcoin Trust (MSBT) has accumulated a net inflow of $193.6 million from its launch on April 8 to May 7, with net assets reaching $239.6 million. In its first month, it recorded net inflows on 17 trading days and remained flat on 5 trading days, with no single day of net outflow.Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, stated that MSBT had a net inflow of $30.6 million on its first day, with a trading volume of approximately $34 million, marking the strongest ETF debut in the bank's history; nearly all the funds came from self-managed clients and have not yet entered the advisory wealth management platform.

According to The Block, Morgan Stanley's Bitcoin ETF (MSBT) did not experience any net outflows in its first month of listing, with a cumulative net inflow of $193.6 million, and as of May 7, its net assets reached $239.6 million.The fund was launched on April 8, with a net inflow of $30.6 million on its first day and a trading volume of approximately $34 million, described by Morgan Stanley's head of digital asset strategy as the bank's most successful ETF debut in history. During the first month of trading, MSBT's daily net inflows gradually decreased from tens of millions to millions but never turned negative, while the overall market for spot Bitcoin ETFs saw a net inflow of $663.9 million on April 17, followed by net outflows of $277.5 million and $145.7 million on May 7 and 8, respectively. MSBT has a management fee of 0.14%, the lowest among U.S. spot Bitcoin ETFs. Almost all of the fund's capital in the first month came from self-directed trading clients and has not yet been sold through Morgan Stanley's wealth management platform.

According to monitoring data from Arkham, Morgan Stanley's spot Bitcoin exchange-traded fund MSBT has once again purchased 91.739 BTC, worth 7.34 million dollars, 10 hours ago. As of now, its total Bitcoin holdings have reached 2922 BTC, worth 235 million dollars.

According to Bloomberg, as crypto-native companies like Coinbase continue to lay off employees on a large scale and the industry as a whole is in a downturn, traditional financial institutions such as JPMorgan and BlackRock have recently bucked the trend by posting dozens of digital asset-related positions, becoming a major highlight in the current crypto job market.Analysts point out that having a background in Wall Street has become an important asset for crypto talent to maintain their competitive edge in employment during the industry's downturn.

According to The Block, JPMorgan analysts have stated that Bitcoin is gradually surpassing gold as a currency devaluation hedge tool following the Iran conflict.Analysts led by Managing Director Nikolaos Panigirtzoglou noted that Bitcoin ETFs recorded inflows for the third consecutive month in May, while gold ETFs are still struggling to recover the funds that flowed out during the outbreak of the Iran conflict in March. This indicates that since the conflict began, retail investors are choosing Bitcoin over gold for devaluation hedge trades.The analysts stated that Bitcoin purchases are not limited to retail investors through ETFs. JPMorgan's position proxy indicators based on CME Bitcoin futures and offshore perpetual futures have also reached new highs, indicating that institutional investors are similarly increasing their exposure. The momentum signals for Bitcoin and gold have also rebounded since the conflict began. Investors are also indirectly buying Bitcoin through Strategy, with the company's purchase volume potentially reaching around $30 billion this year if the current pace is maintained.

JPMorgan stated that if the current buying pace continues, the Strategy's Bitcoin purchases this year could reach approximately $30 billion, higher than the levels of about $22 billion in both 2025 and 2024.The Strategy has already increased its holdings by 145,834 Bitcoins this year, valued at about $11 billion, with most purchases occurring when Bitcoin prices were below its average buying cost of around $75,000. JPMorgan also noted that the premium of the Strategy's net asset value has expanded to about 26% over the past two months, which helps it finance through equity and debt issuance and increase its holdings.

Michael Saylor's Strategy (formerly MicroStrategy) has continued to accelerate its Bitcoin purchases this year. JPMorgan analysts indicate that if the current pace continues, its annual Bitcoin purchase scale could reach approximately $30 billion. So far this year, Strategy has increased its holdings by 145,834 Bitcoins, valued at about $11 billion.Analysis points out that Strategy's large purchases occurred during a period when Bitcoin was below its average cost of about $75,000, reflecting a more "opportunistic" allocation strategy. Based on the current pace, Strategy's total Bitcoin purchases in 2026 could significantly exceed the approximately $22 billion levels of 2024 and 2025. Analysts state that the company has resumed accelerating its purchases since April, indicating that its strategy is increasingly reliant on market conditions and financing availability.At the same time, Strategy's stock continues to trade at about a 26% premium to its net asset value (NAV), providing favorable conditions for its ongoing Bitcoin purchases through equity and debt financing. The company currently holds approximately 818,334 BTC, with a total value exceeding $65 billion.