摩根士丹利新比特币 ETF 上市后给贝莱德 IBIT 带来压力

On April 8, Morgan Stanley’s spot Bitcoin exchange-traded fund began trading on the NYSE Arca under the ticker MSBT, logging 1.6 million shares and roughly $34 million in volume on its highly anticipated first day. The MSBT fund purchased 430 Bitcoin on day one, following $30.6 million in net inflows. Speaking on this performance, Bloomberg ETF analyst Eric Balchunas noted that MSBT's achievement comfortably places it among the top 1% of all ETF launches over the past year. For comparison, the vast majority of newly launched ETFs across all asset classes average $1 million or less on their first day of trading. Why this matters This is one of the clearest signs yet that traditional finance is no longer just distributing Bitcoin exposure. It is beginning to manufacture and price that exposure directly, which could reshape fees, advisor flows, and where new ETF demand lands next. Related Reading Morgan Stanley's first bank-issued Bitcoin ETF is “imminent” – will sell BTC directly to clients A Wall Street bank is moving Bitcoin inside its own system, shifting who controls how BTC reaches client portfolios. Mar 26, 2026 · Oluwapelumi Adejumo Meanwhile, the performance is particularly notable given the broader market context. On its first trading day, the broader Bitcoin ETF sector saw $124 million in outflows, with only MSBT and BlackRock’s iShares Bitcoin Trust (IBIT) managing to register positive inflows. Bitcoin ETFs Daily Flows (Source: Trader T) This underscores the immediate market traction of Morgan Stanley’s offering and signals a potential shift in how institutional capital flows into the sector. Igniting a race to the bottom on fees With this launch, Morgan Stanley became the first major United States bank to issue a spot Bitcoin ETF under its own name, breaking the ice for traditional financial institutions that had previously remained on the sidelines. The Wall Street heavyweight isn't just relying on its century-old brand prestige; it has deliberately ignit