Morgan Stanley Bitcoin ETF Absorbs $194M in First Month With Zero Redemption Days

According to The Block, Morgan Stanley's Bitcoin Trust (MSBT) completed its first month on the market without recording a single day of net redemptions, a streak that no rival spot bitcoin fund matched. MSBT launched on April 8 with $30.6 million in net inflows on day one, placing in the top 1% of all ETF launches per Bloomberg analyst Eric Balchunas. Over the first month through May 8, the fund accumulated $194 million in net inflows, with daily inflows tapering from high-teens millions in the first two weeks to single-digit millions in later sessions but never falling below zero.

MSBT's 0.14% annual sponsor fee is the lowest among all U.S. spot bitcoin ETFs, undercutting competitors including Grayscale Bitcoin Mini Trust at 0.15%, ARKB at 0.21%, and both BlackRock's IBIT and Fidelity's FBTC at 0.25%. On May 7, while IBIT recorded -$27.2 million and FBTC logged -$97.6 million in outflows, MSBT posted $5.7 million in inflows, per SoSoValue data.