Overview
- Morgan Stanley’s MSBT finished its first month since the April 8 launch without a single day of net outflows, with 17 inflow days and five flat sessions.
- The fund drew $30.6 million on day one and topped $103 million within six trading days in what a Bloomberg analyst called a top 1% ETF debut.
- MSBT charges a 0.14% sponsor fee, the lowest among U.S. spot bitcoin ETFs, and on May 7 it traded at a 0.24% premium to its net asset value.
- Most early buying came from self-directed investors as the firm’s roughly 16,000 financial advisors await full platform access that could widen distribution.
- The launch run took place during a six-week stretch through May 8 when U.S. spot bitcoin ETFs pulled in more than $3 billion even as some larger peers posted outflow days.