Key Highlights
- Morgan Stanley Bitcoin Trust (MSBT) accumulated over $103M in net inflows within its first six days of trading
- The fund surpassed WisdomTree’s Bitcoin offering, which has been collecting inflows since its January 2024 debut
- Goldman Sachs submitted an SEC filing to introduce its own Bitcoin-linked exchange-traded fund
- American spot Bitcoin ETFs recorded $411.5M in combined net inflows on Tuesday, turning 2026’s year-to-date numbers positive
- Bitcoin touched $76,000 before retreating to approximately $73,600 during Wednesday’s session
When Morgan Stanley’s spot Bitcoin ETF debuted on April 8, it featured an ultra-competitive expense ratio of 0.14%, positioning it as the most affordable product available in the marketplace at launch.
During its inaugural six-day trading period, the Morgan Stanley Bitcoin Trust attracted $103 million in cumulative net inflows. This performance propelled it beyond the WisdomTree Bitcoin Fund, which had accumulated $86 million in total assets since its January 2024 introduction.
On Wednesday alone, MSBT brought in $19.3 million, based on figures released by Farside Investors.
According to Arkham intelligence, the fund has acquired $83.6 million worth of Bitcoin since its market debut. The fund’s on-chain wallet addresses currently contain approximately $64.4 million in holdings.
Industry observers have characterized Morgan Stanley’s launch as the first spot Bitcoin ETF issued directly by a traditional Wall Street banking institution. The product entered a crowded field of 11 competing spot Bitcoin exchange-traded funds already available to US investors.
BlackRock’s iShares Bitcoin Trust continues to dominate the sector with $64.3 billion in aggregate net inflows. Fidelity’s competing product has secured $10.9 billion in net inflows.
Should MSBT maintain its current momentum, the fund could potentially surpass the Invesco Galaxy, Valkyrie, and Franklin Bitcoin ETFs, each of which holds between $245 million and $375 million in cumulative net inflows.
Goldman Sachs Files to Enter Bitcoin ETF Market
Goldman Sachs submitted regulatory paperwork to the SEC on Tuesday for its own Bitcoin-linked ETF product. This represents a notable pivot for the institution, which had previously expressed skepticism toward cryptocurrency investments.
That same trading session saw US spot Bitcoin ETFs collectively register $411.5 million in net inflows, marking the second-strongest daily performance in April. This influx moved 2026’s year-to-date flow figures back into positive territory, reaching approximately $245 million.
Combined assets under management for all US spot Bitcoin ETFs climbed above $96.5 billion, representing the highest valuation since mid-March.
BlackRock commanded Tuesday’s inflow activity with $214 million. ARK 21Shares captured $113 million while Fidelity secured $45 million. Notably, zero funds experienced outflows during the session.
Bitcoin Valuation and Blockchain Metrics
Bitcoin momentarily reached $76,000 on Tuesday, marking its strongest price point since February. The cryptocurrency subsequently declined nearly 3% on Wednesday, touching an intraday bottom of $73,617 as market participants locked in gains following the 7% advance.
Blockchain analytics reveal that transfers of one Bitcoin or more to cryptocurrency exchanges have experienced a dramatic reduction. On Binance specifically, the monthly average has contracted to roughly 6,000 Bitcoin, mirroring 2018 levels and significantly below the 15,400 Bitcoin recorded during 2021.
Across all exchanges worldwide, transfers of at least one Bitcoin have decreased to approximately 27,500 Bitcoin, compared to roughly 80,000 at the 2018 peak.
Market researchers attribute this trend to elevated Bitcoin valuations, expanded ETF accessibility, and an increasing preference for long-term holding strategies among investors.
As of Wednesday, Bitcoin was changing hands near $73,000, representing a 1% decline over 24 hours but showing gains of 2.9% over the preceding week and 7.5% across the past two weeks.
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