Morgan Stanley’s Bitcoin ETF began trading. An analyst put it in the top 1% of ETF launches

A slew of Bitcoin ETFs have hit the market since the products were first approved in the U.S. in 2024, but so far one sector has remained on the sidelines—major U.S. banks. That changed Wednesday with the launch of MSBT, a Bitcoin ETF offered by Morgan Stanley.

The spot ETF, which features an industry low with a sponsor fee of 0.14%, saw over $25 million in trading volume in its first half day of trading. In an X post, Bloomberg senior ETF Analyst Eric Balchunas put MSBT’s debut in the top 1% of all ETF launches. 

The bank’s crypto plans don’t end with Bitcoin, either. Morgan Stanley also filed for Ethereum and Solana trusts in January.

Bitcoin ETFs currently hold over $100 billion in cumulative assets under management as of Tuesday, according to data from CoinShares. The largest Bitcoin ETF belongs to BlackRock, which has over $53 billion in net assets in its IBIT fund. 

Bitcoin’s newest ETF arrives at a time when investor interest in crypto, and risky assets in general, is relatively muted. Demand for Bitcoin ETFs recovered slightly after posti...