Morgan Stanley launched MSBT this week as the cheapest spot Bitcoin ETF on the market at 14 basis points — undercutting BlackRock’s iBIT by 11 bps.
James Seyffart, senior analyst at Bloomberg Intelligence, breaks down day-one performance ($34M traded, $30M in flows), who will actually buy MSBT (advisors and long-term holders, not traders), why he tweeted “WOW” in all caps at the filing, and what this does to the competitive landscape for every other Bitcoin ETF product.
This clip is from a longer conversation on Bitcoin ETFs and institutional crypto adoption. Full episode here: https://www.youtube.com/live/cEkRgUU5vpg?si=6983Yq4-oHjHGQTO
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