A new Bitcoin ETF drew $31 million on debut, but the broader market rejected it as $94 million fled other funds the same day

Bitcoin ETFs lost nearly $94 million on the day Morgan Stanley’s new fund, MSBT, pulled in $30.6 million in inflows — the debut’s headline figure buried beneath a broader investor retreat. The outflows were led by $79 million leaving Fidelity’s FBTC and $74.7 million exiting ARK’s ARKB, even as Bitcoin’s price held near $71,000. The new ETF, launched on the NYSE with a fee of just 14 basis points, undercut BlackRock and Fidelity, both charging 25 basis points — a gap that drew retail enthusiasm on platforms like Stocktwits, where sentiment on MSBT turned bullish. Yet that interest did not translate into market momentum: BlackRock’s IBIT still outpaced MSBT with over $40 million in inflows, while IBIT the broader product category bled capital. The pattern extended a trend — nearly $160 million had exited Bitcoin ETFs just two days earlier. Bitcoin’s price edged down 0.8% over 24 hours, trading at $71,068, as retail sentiment on the asset itself settled into neutral. The debut’s inflows were real. So was the rejection of the product class around it.