finance
Morgan Stanley's Bitcoin ETP Attracts $100 Million in Inflows in First Six Days
Morgan Stanley launched MSBT, the first bitcoin-backed exchange-traded product from a U.S.-chartered bank, attracting more than $100 million in inflows entirely through self-directed channels. Amy Oldenburg, head of digital asset strategy, highlighted regulatory barriers to banks holding bitcoin directly.
May 3, 8:30 PM·1m read1 source
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Morgan Stanley's MSBT bitcoin-backed exchange-traded product attracted over $100 million in inflows during its first six days of trading, with all investments coming through self-directed channels. com reported. Amy Oldenburg, head of digital asset strategy at Morgan Stanley, noted that the inflows occurred before advisory access on the wealth platform.
Morgan Stanley recommends a 2-4% bitcoin allocation to clients. Oldenburg, appointed head of digital-asset strategy this year, spoke at the Bitcoin Conference in Las Vegas. 'It's been many years that we've been involved in the broader digital asset space the regulatory environment has been more supportive for us doing that,' Oldenburg said.
U.S. banks may eventually hold bitcoin on their own balance sheets. Barriers to banks holding bitcoin include Federal Reserve guidance, Basel rules, and multiple global regulators, according to Oldenburg.
She stated there is a significant gap between what advisors are offering clients and where demand lies. Eighty percent of ETP exposure on Morgan Stanley's wealth platform is self-directed. The bank has launched internal training programs for financial advisors.
BlackRock's IBIT has amassed over $61 billion in assets since launching in January 2024. MSBT uses Coinbase and BNY Mellon as dual custodians.
