Morgan Stanley Bitcoin Trust recorded $371.1 million in gross share contributions during its first 85 days, against only $5.26 million in redemptions. The net decrease of $66.8 million in net assets came almost entirely from unrealized Bitcoin depreciation, totaling $66.17 million out of $66.86 million, demonstrating that accounting losses do not equate to heavy investor withdrawals. As of end of June, the trust held 5,059 BTC valued at $299 million with Bitcoin at $59,101.49, compared to a cost basis of $365.18 million. Creations dominated redemptions with 1,790 creation baskets versus 25 redemption baskets, bringing shares outstanding to 17.65 million, then to 21.74 million by July 31.
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