Odaily Planet Daily reports, according to data from Farside Investors, Morgan Stanley officially launched its spot Bitcoin ETF (MSBT) on Wednesday, attracting $306,000 in inflows on its first trading day, making it the first major U.S. commercial bank to offer such a product. MSBT has a management fee of 0.14%, currently the lowest fee among all Bitcoin ETFs on the market. Despite the fund’s solid debut, U.S. spot Bitcoin ETFs collectively experienced a net outflow of $124.5 million on Wednesday, marking the second consecutive day of net outflows. Bloomberg Intelligence analyst James Seyffart noted that the product may serve as a lead-generation tool aimed at attracting high-net-worth individuals in the cryptocurrency space to use its wealth management services.
Morgan Stanley's Bitcoin ETF Attracts $30.6 Million in Inflows on Debut
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Summary
Morgan Stanley's Bitcoin ETF (MSBT) attracted $30.6 million in ETF inflows on its debut. The fund charges a 0.14% fee, the lowest among Bitcoin ETFs. Meanwhile, U.S. spot Bitcoin ETFs experienced $124.5 million in ETF outflows on the same day, marking the second consecutive day of outflows. Bloomberg’s James Seyffart noted that the product could help attract high-net-worth clients to Morgan Stanley’s wealth management services.
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