Morgan Stanley's MSBT clears its first full month with zero outflows as Bitcoin ETFs log a 6-week inflow streak!

Morgan Stanley's Bitcoin Trust (MSBT) completed its inaugural trading month without a single day of net redemptions — 17 days of positive inflows and five flat days across the period, accumulating roughly $193 million in net inflows and over $240 million in AUM. That flawless flow record arrived while the broader US spot Bitcoin ETF category shed $422 million in combined outflows over just two sessions, during which MSBT absorbed an additional $13 million in fresh capital.

Two structural edges explain the stickiness. First, Morgan Stanley priced MSBT at a 0.14% sponsor fee — the lowest among US spot Bitcoin ETPs, undercutting Grayscale's Mini Trust at 0.15%, Bitwise at 0.20%, and BlackRock's IBIT at 0.25%. For fiduciaries and model-portfolio builders choosing between products tracking identical underlying assets, that margin is decisive. Second, the bank's 16,000 financial advisers…