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 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, worth around $31.7 million, accounting for 0.03% of the estimated 1.29 million BTC collectively held by US spot BTC ETFs.
Offering the lowest fee among its peers, Morgan Stanley’s ETF trailed only BlackRock’s iShares Bitcoin Trust (IBIT) on the day, which saw $40 million in inflows, highlighting competition in a market dominated by a few large issuers.
The debut matters less as a…
