According to CoinMeta, as reported by BBX, Morgan Stanley has been steadily accumulating holdings through ETF, reaching a total position of 9,261 BTC and a bottom position of $779 million, thereby locking in pricing power. Meanwhile, the French chip giant Sequans has completely liquidated its 314 BTC holdings, effectively ending its treasury strategy and reinvesting the cash back into its core semiconductor business. The market is showing a structural divergence where traditional Wall Street financial giants are accelerating their monopoly over Bitcoin spot through wealth management channels, while heavy-asset technology entities are actively divesting from high-volatility digital assets to return cash to defend their main businesses.