0.14% fee rate is really crazy. MSBT had a net inflow of 30 to 40 million right after opening, and traditional major banks have started a price war on spot BTC ETFs.

Morgan Stanley's first spot Bitcoin ETF has opened trading on NYSE Arca, with the ticker MSBT, marking a direct stress test on its first day: can a bank-backed fund attract capital inflows solely because it is cheaper in a volatile market? Industry data shows that approximately 1.6 million shares were traded on the first day, and depending on the underlying assets tracked, the net inflow was about **$30–$34 million**. The fund's fee rate is 0.14%, making it the lowest-cost spot Bitcoin ETF in the U.S. market. Over the next two days, the newly launched MSBT ETF attracted an additional capital inflow of over $31 million.