
The NYSE Arca-listed fund has gathered more than $391 million in assets and drew $15.7 million this week, standing out even as broader U.S. Bitcoin ETF flows turned mixed.
Morgan Stanley's Bitcoin exchange-traded fund has amassed more than $391 million in assets under management since launching in April, putting it close to the $400 million mark in less than a quarter. The NYSE Arca-listed product, described as the first Bitcoin ETF by a bank, took in more than $33 million on its debut day and added another $15.7 million this week, according to Farside Investors data. Senior Bloomberg Intelligence ETF analyst Eric Balchunas said the fund has been one of the most successful launches of the year so far. The momentum comes as U.S. Bitcoin ETFs brought in $274 million so far this week after a stretch of outflows, though Thursday broke a seven-day run of nearly $1 billion in inflows when every fund except Morgan Stanley's saw withdrawals. Morgan Stanley has been expanding its crypto business for years, having started offering wealthy clients Bitcoin exposure through third-party funds in 2021, while CEO and Chairman Ted Pick said last year the bank was working with regulators on how to offer crypto safely. Bitcoin was recently trading at $64,096, down more than 1% on the day and little changed over the past week.