"Morgan Stanley's MSBT pulled in around $34 million in net inflows on its first day of trading, with over 1.6 million shares changing hands. The fund purchased 430 BTC on day one, and Bloomberg ETF analyst Eric Balchunas said the debut put MSBT in the top 1% of all ETF launches over the past year."
"The turnaround gave MSBT a tailwind on launch day, and its 0.14% fee makes it cheaper than every other spot Bitcoin ETF available right now. For most people buying Bitcoin through a brokerage, the fee difference between MSBT and IBIT is barely noticeable."
"Morgan Stanley is a bank with around 16,000 financial advisors who can now direct clients straight into MSBT when they want Bitcoin exposure. Its distribution network is what makes this launch different from every other Bitcoin ETF that came before it."
Morgan Stanley has introduced its own spot Bitcoin ETF, MSBT, after previously deeming Bitcoin potentially worthless. The ETF charges a low fee of 0.14% and has a strong distribution network through 16,000 financial advisors. On its first trading day, MSBT attracted $34 million in net inflows, ranking it among the top 1% of ETF launches. The launch coincided with a positive trend in Bitcoin ETF inflows, making it a competitive option in the market dominated by BlackRock.
Read at 24/7 Wall St.
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