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Morgan Stanley launched the Morgan Stanley Bitcoin Trust (MSBT) on April 8th, setting its expense ratio at 0.14%, making it the lowest-cost Bitcoin ETF in the United States. This development highlights once again the ongoing competition over fees within the growing Bitcoin ETF sector, amid increasing institutional interest in these products.
Analysts believe that IBIT's dominance still remains for now.
The entry of the MSBT fund into the market received immediate attention from ETF analysts (ETFs) after attracting nearly $30.6 million in net inflows on its first trading day, with over 1.6 million shares traded. Eric Belchunas, an ETF analyst, noted that this debut places MSBT within the top 1% of all registered ETF launches in terms of trading volume and asset inflows.
Belchunas expects MSBT's managed assets to reach $5 billion within its first year if momentum continues. However, he sees that BlackRock's iShares Bitcoin Trust (IBIT) still remains the dominant player in the U.S. spot Bitcoin ETF market. IBIT currently manages approximately $55 billion in assets, significantly surpassing its competitors.