Morgan Stanley Bitcoin ETF Draws $30M on Debut

Morgan Stanley’s new spot Bitcoin exchange-traded fund drew $30 million in inflows on its first trading day on U.S. exchanges, according to exchange and fund data.

The fund began trading this week after the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs earlier this year. It holds Bitcoin through custodial arrangements and is designed to track the spot price of the digital asset.

The $30 million figure reflects cash that moved into the fund on day one and does not represent the ETF’s total market value or subsequent trading activity.

BlackRock’s competing spot Bitcoin ETF attracted larger first-day inflows. Several large asset managers launched spot Bitcoin ETFs around the same time, and initial demand varied across offerings.

Morgan Stanley’s product is offered to the firm’s institutional and wealth-management clients as well as to broader ETF investors. Market participants pointed to trading volumes, bid-ask spreads and premiums or discounts to net asset value as factors in early allocations among the new funds.

The SEC approval opened the U.S. market to multiple issuers that had sought a regulated vehicle to track Bitcoin’s price. Opening-day flows and subsequent trading data will be used to monitor distribution and investor preferences among the competing spot Bitcoin ETFs.