- MSBT gathered $193.6M in inflows and $239.6M in assets by May 7, recording 17 inflow days and no redemptions.
- The ETF launched with a 0.14% fee, the lowest among U.S. spot Bitcoin ETFs, helping attract early investor demand.
- Morgan Stanley also expanded crypto access through E*Trade, piloting spot trading for Bitcoin, Ethereum, and Solana.
Morgan Stanley’s spot Bitcoin ETF posted nearly $194 million in inflows during its first month, avoiding a single daily outflow since launch. The Morgan Stanley Bitcoin Trust (MSBT) opened on April 8 and reached $239.6 million in net assets by May 7. According to Amy Oldenburg, the bank’s head of digital asset strategy, the fund also delivered Morgan Stanley’s strongest ETF debut.
MSBT Opens With Strong Demand
MSBT attracted $30.6 million in inflows during its first trading session. Additionally, trading volume reached roughly $34 million on launch day.
Bloomberg ETF analyst Eric Balchunas reportedly ranked the debut among the top 1% of ETF launches. Notably, the broader spot Bitcoin ETF market recorded $94 million in outflows that same day.
Data from SoSoValue showed MSBT generated 17 inflow sessions and five flat days through May 7. However, the fund never recorded a daily net redemption during that period.
Meanwhile, competing spot Bitcoin ETFs experienced heavier volatility. On May 7, BlackRock’s IBIT reported $27.2 million in outflows, while Fidelity’s FBTC lost $97.6 million.
MSBT also traded at a 0.24% premium to net asset value. That figure exceeded IBIT’s 0.18% premium and FBTC’s 0.13%.
Lower Fees Support Investor Interest
Morgan Stanley launched MSBT with a 0.14% annual sponsor fee. That rate currently ranks as the lowest among U.S. spot Bitcoin ETFs.
The fee undercuts Grayscale Bitcoin Mini Trust’s 0.15% charge. It also remains below Bitwise’s BITB and Ark Invest’s ARKB products.
Within six trading days, MSBT crossed $103 million in cumulative inflows. That total surpassed WisdomTree’s BTCW cumulative inflows since January 2024.
According to Amy Oldenburg, early activity mainly came from self-directed investors instead of Morgan Stanley advisors. The bank still operates nearly 16,000 advisors managing more than $9.3 trillion in assets.
E*Trade Expansion Adds Crypto Push
Morgan Stanley is also expanding crypto access through E*Trade. The brokerage platform has started piloting spot crypto trading for Bitcoin, Ethereum, and Solana.
The platform reportedly charges a 50-basis-point transaction fee. Investors can also hold crypto-related exchange-traded products alongside stocks and traditional ETFs.
According to SoSoValue, U.S. spot Bitcoin ETFs collectively attracted more than $3 billion during a six-week inflow streak through May 8.
