摩根士丹利的 MSBT 在比特币 ETF 连续 6 周流入的情况下，第一个交易月以 0 流出结束
Burns Brief
摩根士丹利比特币信托基金在没有一天出现净流出的情况下完成了第一个月的交易，为华尔街银行的品牌、定价和分销提供了一个早期测试案例。这一消息令市场参与者感到不安，空头希望压低价格，而多头则试图捍卫关键支撑位。观察 BTC 的反应——高于或低于关键水平的决定性走势将确认下一个趋势。
The Morgan Stanley Bitcoin Trust completed its first month of trading without a single day of net outflows, providing an early test case for how a Wall Street bank’s brand, pricing, and distribution network can alter the competitive landscape of the digital-asset market. The product, trading under the ticker MSBT, launched on April 8 and has since attracted about $193 million in net inflows, while managing over $240 million in assets. Data from SoSoValue shows the fund's inaugural month included 17 days of positive inflows and five days of flat flows, with zero daily redemptions recorded. Morgan Stanley Bitcoin ETF First Month Flows (Source: SoSo Value) That streak stands out amid a period of localized volatility for rival US spot Bitcoin funds. For context, the broader Bitcoin ETF category bled $422 million in combined outflows during the last two trading sessions, while MSBT successfully absorbed an additional $13 million in fresh capital. This divergence gives Morgan Stanley a flow record that fund sponsors typically take quarters to build. Currently, MSBT holds about 2,620 Bitcoin, ranking it 32nd among Bitcoin-holding crypto ETFs and exchanges, according to Bitcoin Treasuries data. While it trails the largest spot funds in raw size, its resilience during market drawdowns indicates that institutional clients are treating the fund as a long-term allocation. How Morgan Stanley's MSBT achieved a flawless first trading month To understand why this capital is proving so sticky, market observers are looking directly at the issuer's pedigree, as Morgan Stanley’s primary advantage in a turbulent market is familiarity. While crypto-native firms and dedicated asset managers pioneered the US spot Bitcoin ETF market, the bank offers investors a distinctly different entry point: a regulated financial institution with an established wealth-management and advisory base. The bank leaned into this distinction at launch. Amy Oldenburg, Morgan Stanley’s head of digital asset strat
Key Takeaways
- The product, trading under the ticker MSBT, launched on April 8 and has since attracted about $193 million in net inflows, while managing over $240 million in assets
- Data from SoSoValue shows the fund's inaugural month included 17 days of positive inflows and five days of flat flows, with zero daily redemptions recorded
- Morgan Stanley Bitcoin ETF First Month Flows (Source: SoSo Value) That streak stands out amid a period of localized volatility for rival US spot Bitcoin funds
- For context, the broader Bitcoin ETF category bled $422 million in combined outflows during the last two trading sessions, while MSBT successfully absorbed an additional $13 million in fresh capital
- This divergence gives Morgan Stanley a flow record that fund sponsors typically take quarters to build