Morgan Stanley’s Bitcoin (BTC) exchange-traded fund (ETF) ended its first month on the market without recording a single day of net capital outflows. This is a milestone that no Bitcoin spot ETF has been able to achieve to date.
From April 8, 2026 (debut date) to May 7, 2026, the instrument, named Morgan Stanley Bitcoin Trust and ticker MSBT, had net inflows of $193 million.
It is worth remembering that on the first day of MSBT, Net inflows were $30.6 million and trading volume was approximately $34 million.as reported by CriptoNoticias.
This data is important because MSBT maintained positive flows even when other funds had negative days. For example, on May 7th, the Morgan Stanley ETF received $5.7 million. BlackRock’s IBIT recorded an outflow of 27.2 million, while Fidelity’s FBTC recorded a loss of 97.6 million and ARKB recorded a withdrawal of 26.6 million.
One of the keys to this product is low fees. MSBT has an annual fee of 0.14%, the lowest among U.S. spot Bitcoin ETFs. It sits below the Grayscale Bitcoin Mini Trust and is 0.15%. Bitwise’s BITB, 0.20%. ARKB, 0.21%. IBIT and FBTC are both 0.25%.
While this difference may seem trivial to an individual investor, it becomes more important at an institutional scale. The 11 basis point difference from IBIT equates to $1.1 million per year per billion invested.
Another related point is that almost all initial flows are from self-directed clients. Investors who operate their own accounts from a trading platform without going through a Morgan Stanley financial advisor.. The firm has approximately 16,000 advisors and manages more than $9.3 trillion in client assets.
For now, The first month with no net outflows ranks as one of the strongest launches within the BTC ETF market.
