Morgan Stanley officially launched its spot Bitcoin exchange-traded fund (MSBT) on Wednesday, recording approximately $34 million in trading volume on its first day. According to Yahoo Finance data, the fund saw 1,658,176 shares change hands, closing at $20.47 per share.
This figure surpassed the $30 million estimate previously projected by Bloomberg senior analyst Eric Balchunas. As a late entrant to the Bitcoin ETF market, Morgan Stanley has adopted an aggressive pricing strategy, with a 0.14% sponsor fee that is currently the lowest among all comparable products on the market. As reported by Web Snack, MSBT is listed on NYSE Arca, marking the first time a major U.S. bank has issued a spot Bitcoin ETF under its own brand. The fund tracks the CoinDesk Bitcoin Price Index at the 4:00 p.m. New York settlement price and does not utilize leverage, derivatives, or active trading strategies.
Preparation and Industry Context
According to Web Snack, Morgan Stanley filed initial S-1 registration documents with the U.S. Securities and Exchange Commission (SEC) for both a Bitcoin trust and a Solana trust on January 6, 2026, and confirmed the MSBT ticker and listing venue in March. The SEC declared the registration effective on April 7. Prior to this, Morgan Stanley’s stance on cryptocurrency had undergone a long-term shift; CEO Ted Pick stated at the 2025 Davos Forum that the firm was working with regulators to offer crypto products in a secure manner. By the end of 2025, the bank had advised clients to allocate 2% to 4% of their assets to cryptocurrency.
Morgan Stanley holds a significant distribution advantage in promoting this product. The firm boasts one of the industry's largest networks of financial advisors, with approximately 16,000 advisors managing a total of $9.3 trillion in client assets. By comparison, BlackRock’s iShares Bitcoin Trust carries a 0.25% fee, while the Grayscale Bitcoin Mini Trust charges 0.15%. According to Web Snack, since the first spot Bitcoin ETFs launched in January 2024, the sector has accumulated over $56 billion in net inflows, with total assets under management now exceeding $85 billion.
The product launch coincides with a recovery in the Bitcoin market. After a month-long slump, Bitcoin prices rose more than 7.5%, climbing from a low of $67,700 to approximately $72,800 before stabilizing around $71,000. Market analysts attribute the rally to news of a ceasefire between the U.S. and Iran. Furthermore, capital flows into spot Bitcoin ETFs as a whole are improving. According to The Block, U.S.-listed spot Bitcoin funds recorded approximately $471 million in net inflows on Monday, marking the highest single-day total in six weeks.