Morgan Stanley’s bitcoin (BTC) exchange-traded fund (ETF) completed its first month on the market without recording a single day of net capital outflows. This is a milestone that no spot bitcoin ETF has achieved until now.
Between April 8, 2026 (its debut day) and May 7, the financial product, whose name is Morgan Stanley Bitcoin Trust and its ticker (stock code) is MSBT, accumulated $193 million in net inflows.
It is worth remembering that, on its first day, MSBT recorded $30.6 million in net inflows and nearly $34 million in traded volumeas reported by CriptoNoticias.
The data is relevant because MSBT maintained positive flows even in negative days for other funds. On May 7, for example, the Morgan Stanley ETF received $5.7 million, while BlackRock’s IBIT recorded outflows of 27.2 million, Fidelity’s FBTC lost 97.6 million and ARKB had withdrawals of 26.6 million.
One of the keys to the product is its low commission. MSBT charges an annual fee of 0.14%, the lowest among spot bitcoin ETFs in the United States. It is located below the Grayscale Bitcoin Mini Trust, with 0.15%; BITB from Bitwise, with 0.20%; ARKB, with 0.21%; and IBIT and FBTC, both with 0.25%.
The difference may seem minor to retail investors, but it gains weight on an institutional scale. A gap of 11 basis points compared to IBIT is equivalent to 1.1 million dollars annually for every 1 billion invested.
Another relevant point is that almost all the initial flows came from self-directed clients, i.e. investors who operate on their own account from trading platforms and not through Morgan Stanley financial advisors. The firm has about 16,000 advisors managing more than $9.3 trillion in client assets.
For now, Its first month without net outflows positions it as one of the strongest launches within the BTC ETF market.