Morgan Stanley’s new Bitcoin exchange-traded fund has purchased $83.6 million worth of BTC since its launch week, adding fresh institutional attention to the market as Bitcoin trades near recent highs. As per Arkham, the Morgan Stanley Bitcoin Trust ETF, trading under the ticker MSBT, currently holds about $64.4 million in on-chain addresses. The product launched last week with a 0.14% fee and has been described as Wall Street’s first bank-issued spot Bitcoin ETF. Source: X The launch came during a broader recovery in Bitcoin and ETF demand. US-listed spot Bitcoin ETFs posted $411.5 million in net inflows on Tuesday, marking the second-largest daily inflow total in April so far, according to SoSoValue data referenced in the market reports. Those inflows pushed total net ETF flows for 2026 back into positive territory at about $245 million year to date. Total assets under management across the category also rose above $96.5 billion, the highest level since mid-March. Morgan Stanley’s entry arrived as other major financial firms expanded their Bitcoin plans. Goldman Sachs also filed with US securities regulators to introduce a Bitcoin-linked ETF, adding another large Wall Street name to the digital asset segment. The filing and launch activity point to continued institutional participation in crypto-linked investment products even as Bitcoin price action remains sensitive to macro and geopolitical developments. MSBT Extends Inflow Streak as ETF Demand Builds MSBT recorded inflows for a fifth straight day and accumulated about $84 million over that stretch, based on the figures provided. BlackRock’s IBIT led Tuesday’s ETF flows with roughly $214 million, extending its own five-day inflow run to about $696 million. ARK 21Shares’ ARKB added about $113 million, while Fidelity’s FBTC brought in roughly $45 million. No US spot Bitcoin ETF recorded outflows during the session. The steady inflows came as Bitcoin recovered from earlier weakness and briefly moved above $75,000. As we reported, the BTC price rose as high as $76,000 on Tuesday, its strongest level since February, before easing on Wednesday. At the same time, growing ETF demand has offered a new path for investors seeking Bitcoin exposure without holding the asset directly, a trend that has continued to reshape market structure since spot products entered the US market. Wholecoiner Exchange Flows Continue to Decline On-chain and exchange flow data also pointed to changes in investor behavior. Transfers of at least 1 BTC to exchanges have fallen sharply over time, reflecting a lower number of so-called wholecoiners moving coins onto trading venues. On Binance, the monthly average of these flows has dropped to around 6,000 BTC, a level comparable to 2018 and well below the 15,400 BTC recorded in 2021. Source: CryptoQuant At the global level, transfers of at least 1 BTC to exchanges have declined to around 27,500 BTC, compared with about 80,000 BTC at the 2018 peak. The decline has been linked to several factors, including higher Bitcoin prices, the expansion of ETF access, and an increase in long-term holding strategies. Lower flows to exchanges can reduce near-term selling activity, while ETF adoption gives investors another route to gain exposure. Despite the strong ETF activity, Bitcoin fell nearly 3% on Wednesday to an intraday low of $73,617 after a sharp rally yesterday. This has come about as traders took profits after Bitcoin surged about 7% on Tuesday and reclaimed the $75,000 level. Market sentiment was also shaped by renewed expectations around possible US-Iran peace talks, though delays and continued tension kept volatility elevated.
