American banking giant Morgan Stanley (NYSE: MS) has continued its aggressive push into cryptocurrency through the recent launch of its spot Bitcoin ($BTC) exchange-traded fund (ETF).
Specifically, the institution acquired an additional 215 Bitcoin worth approximately $16.43 million, according to the latest on-chain data retrieved by Finbold from Arkham on April 21.
The purchase, executed via Coinbase Prime, brings the bank’s total holdings in the Morgan Stanley Bitcoin Trust (MSBT) to 1,820.6 Bitcoin, valued at around $138.1 million at current market prices.
The MSBT ETF, launched on April 8, became the first spot Bitcoin ETF issued by a major U.S. bank.
Listed on NYSE Arca, it drew about $34 million in first-day inflows and features a leading low expense ratio of 0.14%, positioning it as a cost-effective option.
Indeed, the company’s product has had a strong start, attracting more than $100 million in net inflows within its first week of trading.
MSBT’s strong ETF start
Data shows the fund pulled in about $103 million over its first six days, averaging roughly $17 million in daily inflows since its April 8 launch.
While still trailing larger peers such as BlackRock’s IBIT, MSBT is emerging as a competitive entrant, having already surpassed the total inflows of WisdomTree’s WBTC, despite the latter being in the market since early 2024.
Notably, MSBT’s low management fee, among the cheapest in the sector, combined with Morgan Stanley’s distribution strength, has helped drive investor interest.
If inflows remain steady, the ETF could begin closing the gap with mid-tier rivals, including Invesco’s BTCO, Valkyrie’s BRRR, and Franklin Templeton’s EZBC.
Whether MSBT can maintain its early momentum will be key as competition in the spot Bitcoin ETF market intensifies.
Overall, the banking entity views Bitcoin as a portfolio diversifier and potential inflation hedge, and is leveraging its network of roughly 16,000 wealth advisors to offer clients regulated, simplified exposure without the need for direct custody or trading.
Leave a Reply
You must be logged in to post a comment.