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Morgan Stanley's Bitcoin Trust logged a flawless first month: 17 days of positive inflows and five flat days across its opening four weeks, with not a single session of net outflows. By May 7, MSBT had accumulated $193.6 million in cumulative net inflows and $239.6 million in net assets since its April 8 launch, according to SoSoValue data.
The zero-outflow streak held even as the broader spot bitcoin ETF market absorbed back-to-back bleeding — $277.5 million in net outflows on May 7 followed by $145.7 million on May 8. MSBT didn't flinch on either day, a signal that its investor base is structurally different from the retail-heavy flows that dominate aggregate ETF data.
Morgan Stanley's head of digital assets confirmed that nearly all of MSBT's capital in the early weeks came from self-directed clients of the bank — high-net-worth investors navigating the platform independently…
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