Morgan Stanley and Galaxy Digital launch crypto holdings conversion spot ETP service, lowering the threshold from $25 million to $5 million;
Bitdeer sold all 205 BTC mined last week, maintaining zero BTC holdings

ME News Report, June 8th (UTC+8), according to BBX Cryptocurrency Concept Stock Information Disclosure, Morgan Stanley and Galaxy Digital's $5 million threshold crypto conversion service marks a significant step in Wall Street wealth management integrating on-chain crypto assets into traditional portfolios — it addresses not "whether to buy crypto," but "how high-net-worth clients already holding crypto can reallocate their digital assets with institutional-level efficiency and collateral financing capabilities"; meanwhile, Bitdeer's zero-holdings strategy reminds the market: even leading mining companies can choose to position mining as "hashpower services" rather than "BTC accumulation" — against the backdrop of Bitcoin's continued decline, this strategic choice offers a rare industry perspective.

Key Dynamic Highlights

On June 5th, Morgan Stanley (NYSE: MS) / Galaxy Digital (NASDAQ: GLXY) issued a joint announcement: Morgan Stanley Wealth Management and Galaxy Digital reached a recommendation cooperation agreement, allowing qualified clients to lend BTC, ETH, or SOL to Galaxy Digital. After authorized participants create physical shares, the corresponding spot crypto ETP shares (including Morgan Stanley Bitcoin Trust, MSBT) are directly transferred into clients' brokerage accounts; the converted ETP shares can be used as collateral for financing. Key parameters: Galaxy Digital lowered the minimum trading threshold for Morgan Stanley recommended clients from $25 million to $5 million, greatly expanding the scope of qualified high-net-worth clients; typical entry times for similar transactions usually exceed four weeks, but the new mechanism can shorten this by up to 75%; the cooperation is based on the U.S. SEC's approval of the physical crypto asset conversion ETF mechanism in July 2025 (allowing direct conversion between physically held crypto assets and spot crypto ETFs).

Bitdeer Group, Inc. (NASDAQ: BTDR) reported that as of the week ending June 5th, Bitdeer's Bitcoin mining output was 205.3 BTC, with the same amount sold during the period, resulting in a net increase of 0 BTC, maintaining its zero-Bitcoin holdings strategy. Bitdeer's "produce-and-sell" model contrasts sharply with miners like CleanSpark and MARA, which continue to accumulate Bitcoin — Bitdeer immediately liquidates all mined BTC to maintain operational cash flow and support its SEALMINER hardware expansion and hash power hosting services. (Source: BBX)