Despite only being launched a week or so ago, Morgan Stanley’s new spot Bitcoin exchange-traded fund has recently overtaken the WisdomTree Bitcoin Fund (WBTC) in terms of total net inflows.
On Wednesday, investors added $19.3 million to the Morgan Stanley Bitcoin Trust (MSBT), increasing its net inflow to $103 million.
According to data from Farside Investors, the amount has now surpassed the $86 million total net inflow that the WisdomTree Bitcoin Fund (WBTC) has been collecting from its start in January 2024.
The expanding Bitcoin ETF market is attracting more asset managers. Former cryptocurrency critic Goldman Sachs filed with the SEC on Tuesday to introduce its own Bitcoin-linked ETF.
The Greyscale Bitcoin Mini Trust ETF (BTC) was undercut by one base point when the Morgan Stanley spot Bitcoin ETF product debuted on April 8 at a market-low fee of 0.14%.
It joins eleven other spot Bitcoin ETFs, such as the Fidelity Wise Origin Bitcoin Fund, with $10.9 billion, and BlackRock’s iShares Bitcoin Trust ETF (IBIT), which is currently the market leader with $64.3 billion in net inflows.
Other rivals of MSBT include Greyscale, ARK 21Shares, and Bitwise’s Bitcoin ETFs.
With net inflows of $245 million, $326 million, and $375 million, respectively, Invesco Galaxy Bitcoin ETF (BTCO), Valkyrie Bitcoin ETF (BRRR), and Franklin Bitcoin ETF (EZBC) may be surpassed by Morgan Stanley’s Bitcoin ETF if momentum continues.
Source: X.com
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