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Morgan Stanley Bitcoin ETF Attracts $30.6 Million in Inflows on First Trading Day
Svmuu News: According to Farside Investors data, 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 among Bitcoin ETFs on the market. Despite the fund's solid debut, spot Bitcoin ETFs across the U.S. saw a net outflow of $124.5 million on Wednesday, marking the second consecutive day of net outflows. Bloomberg Intelligence analyst James Seyffart suggested that the product might serve as a "loss leader" to attract high-net-worth cryptocurrency individuals to its wealth management services.
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