Morgan Stanley's spot Bitcoin (BTC) ETF, MSBT, kicked off trading as expected on Wednesday, April 8, on NYSE Arca. The fund saw a relatively strong debut, with $30.6 million in net inflows yesterday, per Farside data.
Morgan Stanley's fund page shows that the fund held 444.4 BTC valued at $31,654,653.90 as of April 8. Meanwhile, CoinDesk reported the fund generated $34 million in day-one trading volume.
Bloomberg senior ETF analyst Eric Balchunas commented on the day-one performance midday on yesterday, when MSBT had already recorded $27 million in trading volume. Balchunas pushed his original $30 million day-one volume prediction to $50 million in the X post. For context, Balchunas reference two recent crypto ETF launches, for Solana and XRP funds, which both saw nearly $60 million traded on their first day.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
