According to Cointelegraph’s report on April 24, Morgan Stanley launched the “Stablecoin Reserves Portfolio,” which is a government money market fund designed specifically for stablecoin issuers. Its structure meets the proposed “GENIUS Act” requirement for 100% reserve backing.
Stablecoin Reserves Portfolio Issuance Details
According to Cointelegraph’s report, Morgan Stanley’s Stablecoin Reserves Portfolio is a government money market fund for stablecoin issuers to store reserves under the regulatory framework of the “GENIUS Act.” The funds are invested in government money market instruments. The “GENIUS Act” requires stablecoin issuers to maintain 100% reserve backing. Morgan Stanley’s fund provides issuers with a compliant investment vehicle that meets the above requirements.
According to Cointelegraph’s report, State Street and Goldman Sachs have already submitted relevant applications for similar stablecoin reserve fund proposals.
Arkham Data: Morgan Stanley MSBT Bitcoin Transfer Records
According to Arkham’s on-chain monitoring data on April 24, Morgan Stanley’s Bitcoin ETF (MSBT) transferred 500 bitcoins to the address “3E1CbH” about 8 hours ago, with a current value of approximately $38.86 million. The target address was created one week ago; immediately after receiving the bitcoins, the funds were transferred to another address “bc1q4m.” Arkham data indicates that this transfer is presumably the first recorded outflow of bitcoin for MSBT; the marked bitcoin-holding address currently holds 1,713 bitcoins, with a current value of approximately $133.17 million.
Frequently Asked Questions
What type of fund is Morgan Stanley’s Stablecoin Reserves Portfolio, and which institutions is it for?
According to Cointelegraph’s report on April 24, the Stablecoin Reserves Portfolio is a government money market fund for stablecoin issuers to store 100% reserves under the proposed “GENIUS Act.” The funds are invested in government money market instruments.
What specific requirements does the “GENIUS Act” impose on stablecoin reserve funds?
According to Cointelegraph’s report, the “GENIUS Act” requires stablecoin issuers to maintain 100% reserve backing. Morgan Stanley’s Stablecoin Reserves Portfolio is intended to provide a compliant investment vehicle that meets the above federal reserve requirements.
What is the source of the 500-bitcoin transfer data for Morgan Stanley’s MSBT?
According to Arkham’s on-chain monitoring data on April 24, MSBT transferred 500 bitcoins (current value of approximately $38.86 million) to an address created one week ago. Arkham has marked this transfer as presumably the first recorded bitcoin outflow for MSBT. The marked holdings address currently has 1,713 bitcoins, with a current value of approximately $133.17 million.
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