Morgan Stanley Bitcoin ETF trails BlackRock with $30M in first-day inflows
Morgan Stanley’s Bitcoin ETF drew $30.6 million in first-day inflows, ranking second behind BlackRock’s IBIT as US spot Bitcoin ETFs clocked net outflows on Wednesday.
The Morgan Stanley Bitcoin Trust (MSBT), the first spot Bitcoin exchange-traded fund (ETF) offered by a US bank, recorded $30.6 million in inflows on its trading debut, giving the Wall Street bank a respectable, but not blockbuster, entry into the spot Bitcoin ETF market.
MSBT started trading on the NYSE Arca on Wednesday, generating $34 million in trading volume, slightly above the expectations of Bloomberg ETF analyst Eric Balchunas, who predicted first-day volume would reach $30 million.
As of April 8, MSBT held 444.4 Bitcoin (BTC), worth around $31.7 million, accounting for roughly 0.03% of the estimated 1.29 million BTC collectively held by US spot BTC ETFs.
