MSBTvsMARA
Morgan Stanley (MSBT) Bitcoin Trust ETP vs Marathon Digital
Side-by-side Bitcoin treasury comparison: holdings, market cap, mNAV ratio, BTC per share, cost basis, and recent purchases. Numbers refresh every 5 minutes from SEC filings and live market data.
MSBT
Morgan Stanley (MSBT) Bitcoin Trust ETP
🇺🇸 US
5,761 BTC
$368.3M market value
MARA
Marathon Digital
🇺🇸 US
35,303 BTC
$2.3B market value
Metric
MSBT
MARA
BTC holdings
5,761 BTC
35,303 BTC
Market value of BTC
$368.3M
$2.3B
Average cost per BTC
—
$68,236.16
Total cost basis
—
$2.4B
mNAV (market cap ÷ BTC value)
—
2.05×
Sats per share
45.4k
9.3k
- Jul 9, 2026+34 BTC$2.2M
- Jul 9, 2026+35 BTC$2.2M
- Jul 6, 2026+172 BTC$10.9M
- Jul 6, 2026+171 BTC$11.0M
- Jul 1, 2026+496 BTC$30.5M
MSBT vs MARA: frequently asked
Which company holds more Bitcoin, MSBT or MARA?▾
Marathon Digital (MARA) holds 35,303 BTC, compared to Morgan Stanley (MSBT) Bitcoin Trust ETP's (MSBT) 5,761 BTC — roughly 6.1× more.
What's the total Bitcoin value on the balance sheets of MSBT and MARA?▾
MSBT holds $368.3M worth of Bitcoin at current market prices. MARA holds $2.3B.
Who has a lower cost basis per BTC, MSBT or MARA?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did MSBT last buy Bitcoin?▾
MSBT disclosed a 34 BTC purchase on July 9, 2026.
When did MARA last buy Bitcoin?▾
MARA disclosed a -3,386 BTC purchase on May 11, 2026.