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Morgan Stanley Bitcoin ETF rakes in $100m as Wall Street follows suit: ‘Excellent number’
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Morgan Stanley’s new Bitcoin ETF pulled in $100 million in its first six days of trading.
Key facts
- Morgan Stanley manages around $6.2 trillion across 16,000 financial advisers
- Morgan Stanley’s new Bitcoin ETF pulled in $100 million in its first six days of trading
- Wall Street’s Bitcoin ETFs have absorbed more than 1.6 million coins since launching in January 2024
- Morgan Stanley’s new Bitcoin exchange-traded fund raked in $100 million in its first six days of trading
Summary
That’s a solid debut for the first Wall Street bank to offer an in-house Bitcoin product, and it comes as Goldman Sachs and Charles Schwab prepare to offer their own branded crypto products. Morgan Stanley manages around $6.2 trillion across 16,000 financial advisers. Wall Street awakens Many banks are likely watching Morgan Stanley to see how it fares. But some aren’t staying put. Goldman Sachs announced this week that it was also launching its own in-house Bitcoin ETF. Charles Schwab announced today that it would begin offering crypto trading to its customers. Wall Street’s Bitcoin ETFs have absorbed more than 1.6 million coins since launching in January 2024. They have piled around $2.1 billion into Bitcoin ETFs since the start of the year, according to DefiLlama data.
At its current rate of accumulation, the new ETF will bring in more than $7 billion in its first year, which would eclipse many of the already-existing ETFs like VanEck and Franklin Templeton. Pedro Solimano is a markets correspondent based in Buenos Aires.