Zero Outflows in 30 Days: How Morgan Stanley’s MSBT Outflanks Every ETF Rival

Morgan Stanley’s spot Bitcoin ETF cleared 30 days of trading without a single outflow day, drawing roughly $194 million while BlackRock, Fidelity, and ARK Invest all lost capital over the same stretch.

MSBT, which began trading April 8 on NYSE Arca, posted 17 inflow days and 5 flat sessions through May 8, lifting its asset base above $240 million.

How MSBT Outflanked Every Rival in Month One

SoSoValue data shows MSBT launched with $30.6 million in deposits and $34 million in trading volume on day one. Net inflows climbed to roughly $194 million by May 8, pushing the fund’s bitcoin holdings near 2,920 BTC.

Morgan Stanley (MSBT) ETF Performance Since Launch. Source: SoSoValue

Every other major spot Bitcoin ETF lost ground during the same window. Products from BlackRock, Fidelity, and ARK Invest each posted net outflows as BTC traded between the mid-$70,000s and low-$80,000s.

MSBT’s 0.14% fee, the cheapest in the category, helped insulate it from the rotation.

BlackRock’s IBIT set the 2024 benchmark with 71 inflow days after launch. Its first flat session arrived in April 2024, followed by a $36.9 million outflow on May 1.

MSBT now joins that pattern on a shorter, sharper scale.

Sticky Capital Signals Advisor-Led Allocation

Morgan Stanley’s roughly 16,000 advisors steward more than $9 trillion in client assets. That captive channel gives MSBT reach pure-play issuers cannot match.

The fee gap and in-house distribution help explain why the six-week sector tailwind landed disproportionately on the fund.

Whether MSBT can hold the streak as BTC volatility returns is the next test. The fund’s $240 million asset base sits far below IBIT’s scale.

Still, its first-month retention sets a new bar for late entrants in the spot ETF lineup.

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