Summary
- Morgan Stanley’s spot Bitcoin (BTC) ETF began trading on U.S. exchanges, with first-day volume rising quickly.
- Eric Balchunas said MSBT’s first-day trading volume had surpassed $27 million and should clear $30 million easily, with a chance of reaching $50 million.
- He said that level of trading would rank the fund in the top 1%% of newly listed ETFs, while the market is watching institution-led Bitcoin ETF demand as well as whether inflows continue and how trading volume trends develop.
Forecast Trend Report by Period
Morgan Stanley’s spot Bitcoin ETF began trading on U.S. exchanges, with first-day volume rising quickly as early demand showed signs of outpacing initial expectations.
Eric Balchunas, an ETF analyst, wrote on X on Aug. 8 that trading volume in Morgan Stanley’s spot Bitcoin ETF, MSBT, had already surpassed $27 million.
His initial estimate of $30 million should be exceeded easily, he wrote, adding that volume could expand to as much as $50 million.
That would place the fund in roughly the top 1% of newly listed ETFs by first-day trading volume. Products that posted about $60 million in debut trading volume last year included BSOL, XRPC and DRAM.
The market is viewing the early activity as a sign of institution-led demand for Bitcoin ETFs. Whether inflows continue and how trading volume develops will be key variables going forward.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
