Morgan Stanley's spot Bitcoin exchange-traded fund (ETF), the Morgan Stanley Bitcoin Trust (MSBT), has achieved significant success in its early days, accumulating $103 million in net inflows just six trading days after its launch on April 8, 2024. This figure surpasses the $86 million total inflow of the WisdomTree Bitcoin Fund (WBTC), which had been operational since January 2024. The rapid growth of MSBT reflects a broader trend as more asset managers, including Goldman Sachs, are entering the Bitcoin ETF space. Goldman Sachs recently filed with the U.S. Securities and Exchange Commission (SEC) to launch its own Bitcoin-linked ETF, indicating a shift in sentiment towards cryptocurrencies among traditional financial institutions. MSBT launched at a competitive fee of 0.14%, slightly lower than the Grayscale Bitcoin Mini Trust ETF. The fund joins a competitive market that includes other ETFs like BlackRock’s iShares Bitcoin Trust ETF, which leads with $64.3 billion in net inflows. However, the average lifespan of ETFs is decreasing, with reports indicating that over 40 ETFs were liquidated in the first two months of 2026, highlighting challenges in the ETF market, particularly for crypto products.