Morgan Stanley’s Bitcoin exchange-traded fund has grown to nearly $400 million in assets under management, despite having launched only in April.

The NYSE Arca-listed fund, described by Bitcoin Magazine as the first Bitcoin ETF offered by a bank, drew more than $33 million in new cash on its first day of trading. The product now holds more than $391 million in assets, according to the report, putting it close to a level that many ETFs do not reach at all, let alone within roughly one quarter.

Assets under management are a key measure of ETF scale because they reflect the value of investor capital held by the product, including both inflows and changes in the underlying asset’s market value. For a Bitcoin ETF, that metric is also watched as a sign of how much regulated, exchange-traded exposure investors are choosing over direct custody of the cryptocurrency.

Senior Bloomberg Intelligence ETF analyst Eric Balchunas said Friday that the fund has been among the most successful ETF launches of the year so far, according to a post on X: https://x.com/EricBalchunas/status/2080754015973830709

Farside Investors data cited in the report shows that the Morgan Stanley product attracted $15.7 million in new cash this week alone. The fund is listed on Morgan Stanley Investment Management’s website at

Morgan Stanley has been expanding its involvement in digital assets for several years. In 2021, the bank began offering wealthy clients exposure to Bitcoin through funds, including products from Galaxy Digital. Last year, Morgan Stanley CEO and Chairman Ted Pick said the bank was working with regulators to determine how it could offer crypto safely. In April, Amy Oldenburg, the bank’s head of digital assets, said client education, rather than product design, was the central challenge for Bitcoin adoption.

The bank’s activity comes as large financial institutions have increasingly used ETF structures to provide clients with access to digital assets through familiar brokerage and advisory channels, while still operating within securities-market rules.

Bitcoin ETF flows this week

After several weeks of outflows and uneven price action, U.S. Bitcoin ETFs have recorded fresh inflows over the past seven days.

Farside Investors data cited by Bitcoin Magazine shows that the products have taken in a total of $274 million in new investment so far this week. The funds had previously been on a winning streak, bringing in nearly $1 billion over seven days until Thursday, when every ETF saw outflows except Morgan Stanley’s product.

Weekly flow data is closely followed because it shows whether investors are adding or withdrawing capital from ETF products, separate from day-to-day price changes in Bitcoin itself. That distinction can matter during periods when the token’s price is little changed but ETF demand is shifting.

Bitcoin was recently trading at $64,096, down more than 1% over the previous 24 hours. Over a seven-day period, the cryptocurrency was nearly unchanged.

European asset manager CoinShares said last week that although investors are again putting new capital into Bitcoin ETFs, other factors may limit broader gains in digital asset markets.

“We see no significant upside potential from here,” James Butterfill, head of research at CoinShares, wrote.