Morgan Stanley’s spot Bitcoin (BTC) ETF (MSBT) began trading last week, on April 8, and so far, its performance has been quite positive.
Notably, the fund has drawn in approximately $103 million since launch, as attested by Farside Investors data as of April 16.
For comparison, WisdomTree’s Bitcoin ETF has amassed $86 million in inflows since its January 2024 debut, which illustrates just how quickly MSBT grabbed investor attention.
Of course, the fund is still far below the market’s dominant players. For example, BlackRock’s iShares Bitcoin Trust (IBIT) has seen more than $500 million in inflows just over the past two days.
The cheapest Bitcoin ETF wraps up its first week
Amy Oldenburg, Morgan Stanley’s head of digital assets, said in an interview with Bloomberg that MSBT is already the firm’s most successful ETF launch to date.
The fund tracks the CoinDesk Bitcoin Benchmark and carries a 0.14% expense ratio, which makes it the cheapest financial product offering in its category. BlackRock, for example, comes with an expense ratio of 0.25%.
In addition to pricing, MSBT benefits from the issuer’s extensive wealth management platform, which oversees trillions in client assets. In other words, its network of financial advisors allows investors to gain Bitcoin exposure without relying on crypto-native platforms.
All eyes are now on the bank’s competitors. For example, Goldman Sachs filed for a Bitcoin Premium Income ETF earlier this week, marking one of its first direct entries into crypto. At the same time, BlackRock is reportedly preparing a similar yield-focused ETF, signaling that competition is evolving beyond simple spot exposure.
In short, the new launch, as well as the upcoming ones from the likes of Goldman Sachs, show that mainstream financial institutions are slowly acknowledging Bitcoin’s utility.
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