Morgan Stanley Bitcoin Trust just wrapped its first month on the market without a single day of net outflows. Since it started trading on April 8, MSBT has seen $193 million flow in, with total assets now topping $240 million.
Right out of the gate, the ETF showed promise. It hit its stride with $30.6 million in deposits and $34 million in trading volume.
Amy Oldenburg, the head of digital asset strategy at Morgan Stanley, even hailed it as the firm’s best ETF debut to date.
Bloomberg’s Eric Balchunas also stated the fund’s opening performance puts it in the 99th percentile of all-time ETF debuts.
The streak is notable because rival U.S. spot Bitcoin ETFs, including products from BlackRock, Fidelity Investments and ARK Invest, have experienced net outflows over the same period as Bitcoin prices fluctuated between the mid-$70,000 and low-$80,000 range.
MSBT’s resilience comes as the broader U.S. spot Bitcoin ETF market extended a six-week streak of inflows. Analysts say Morgan Stanley’s aggressive pricing strategy has helped differentiate the fund.
MSBT charges a 0.14% sponsor fee, currently among the lowest in the U.S. spot Bitcoin ETF market, undercutting several established competitors.
SoSoValue data highlights a perfect first month for the MSBT. The fund recorded 17 days of inflows and five flat days, but absolutely no redemptions.
Only six trading days into its debut, MSBT had already drawn in more than $103 million from investors, topping BTCW’s all-time cumulative inflows of $86 million.
Not to mention, over the last two trading sessions, it raised $13 million in fresh investment while its competitors were hammered by $422 million in combined exits.
On a rough day for the industry (May 7), MSBT managed to attract $5.7 million, while rivals like Fidelity and BlackRock saw net redemptions of double-digit millions.
Source: X.com
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