Morgan Stanley bitcoin ETF attracted $34 million on its first day, entering the competition with low fees
Odaily reports that the spot Bitcoin ETF (MSBT) launched by Morgan Stanley saw active trading on its first day, with over 1.6 million shares traded and approximately 34 million USD in capital inflows.
The fund tracks the CoinDesk Bitcoin benchmark price and has a fee rate of only 0.14%, the lowest among similar products, focusing on price advantage to compete in the market.
In addition to the low fee rate, MSBT leverages Morgan Stanley's extensive wealth management channels and is expected to attract traditional investors to allocate to Bitcoin assets through its financial advisor system.
However, the market is still dominated by leading products, such as one exchange's IBIT, which has surpassed 53 billion USD in scale. Industry insiders expect that in the short term, MSBT may divert some existing funds, while its long-term performance will depend on its ability to maintain continuous capital inflows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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