Morgan Stanley’s Bitcoin ETF Tops $100M in Inflows After Just Six Trading Days

TLDR

• Morgan Stanley’s Bitcoin Trust (MSBT) surpassed $103M in total net inflows after just six trading days
• MSBT overtook WisdomTree’s Bitcoin fund, which had been accumulating inflows since January 2024
• Goldman Sachs filed with the SEC to launch its own Bitcoin-linked ETF
• US spot Bitcoin ETFs posted $411.5M in net inflows on Tuesday, pushing 2026 totals into positive territory
• Bitcoin briefly hit $76,000 before pulling back to around $73,600 on Wednesday

Morgan Stanley’s spot Bitcoin ETF launched on April 8 with a fee of just 0.14%, making it the lowest-cost option at the time it entered the market.

In its first six trading days, the Morgan Stanley Bitcoin Trust pulled in $103 million in total net inflows. That puts it ahead of the WisdomTree Bitcoin Fund, which had been building its $86 million total since January 2024.

The MSBT added $19.3 million in a single day on Wednesday alone, according to data from Farside Investors.

Arkham data shows the fund purchased $83.6 million worth of Bitcoin since launch. It currently holds around $64.4 million in on-chain addresses.

Morgan Stanley’s entry has been described as Wall Street’s first bank-issued spot Bitcoin ETF. It joined 11 other spot Bitcoin products already trading in the US market.

BlackRock’s iShares Bitcoin Trust remains the category leader with $64.3 billion in total net inflows. Fidelity’s fund holds $10.9 billion in net inflows.

If MSBT keeps up its pace, it could also overtake the Invesco Galaxy, Valkyrie, and Franklin Bitcoin ETFs, which hold between $245 million and $375 million in net inflows.

Goldman Sachs Joins the Race

Goldman Sachs filed with the SEC on Tuesday to launch its own Bitcoin-linked ETF. The bank had previously been a critic of crypto.

On the same day, US spot Bitcoin ETFs as a group recorded $411.5 million in net inflows, the second-largest daily total in April. That pushed 2026 year-to-date flows back into positive territory at around $245 million.

Total assets under management across all US spot Bitcoin ETFs rose above $96.5 billion, the highest level since mid-March.

BlackRock led Tuesday’s inflows with $214 million. ARK 21Shares added $113 million and Fidelity brought in $45 million. No ETF recorded outflows that day.

Bitcoin Price and On-Chain Activity

Bitcoin briefly climbed to $76,000 on Tuesday, its highest level since February. It then fell nearly 3% on Wednesday to an intraday low of $73,617 after traders took profits following the 7% rally.

On-chain data shows that transfers of at least 1 Bitcoin to exchanges have dropped sharply. On Binance, the monthly average has fallen to around 6,000 Bitcoin, similar to 2018 levels and well below the 15,400 Bitcoin recorded in 2021.

Globally, transfers of at least 1 Bitcoin to exchanges have declined to around 27,500 Bitcoin, compared to about 80,000 at the 2018 peak.

Analysts link this to higher Bitcoin prices, growing ETF access, and more long-term holding behavior.

Bitcoin was trading around $73,000 as of Wednesday, down 1% in 24 hours but up 2.9% over the past week and 7.5% over 14 days.

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