MSBTvsXXI
Morgan Stanley (MSBT) Bitcoin Trust ETP vs Twenty One Capital
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
XXI
Twenty One Capital
🇺🇸 US
43,514 BTC
$2.8B market value
Metric
MSBT
XXI
BTC holdings
5,761 BTC
43,514 BTC
Market value of BTC
$368.3M
$2.8B
Average cost per BTC
—
$84,865.00
Total cost basis
—
$3.7B
mNAV (market cap ÷ BTC value)
—
0.64×
Sats per share
45.4k
12.5k
- 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 XXI: frequently asked
Which company holds more Bitcoin, MSBT or XXI?▾
Twenty One Capital (XXI) holds 43,514 BTC, compared to Morgan Stanley (MSBT) Bitcoin Trust ETP's (MSBT) 5,761 BTC — roughly 7.6× more.
What's the total Bitcoin value on the balance sheets of MSBT and XXI?▾
MSBT holds $368.3M worth of Bitcoin at current market prices. XXI holds $2.8B.
Who has a lower cost basis per BTC, MSBT or XXI?▾
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 XXI last buy Bitcoin?▾
XXI disclosed a -1 BTC purchase on May 13, 2026.