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Morgan Stanley Bitcoin Trust (MSBT) has outperformed BlackRock’s iShares Bitcoin Trust (IBIT) since the beginning of this week through April 30, according to data from SoSoValue. Over that period, MSBT attracted a total of $10.81 million, while IBIT recorded a net cash outflow of $166.98 million.
On Monday and Tuesday, MSBT posted zero total cash flow, leaving the trust holding Bitcoin worth approximately $197.7 million at press time. In contrast, IBIT’s cash outflow during the same period reduced its holdings to Bitcoin valued at around $61.11 billion at the time of publication.
Following this week’s cash outflow, IBIT ended a streak of 13 consecutive days of inflows, as noted by Finbold. By comparison, MSBT has never had a net daily outflow since its inception.
Morgan Stanley’s MSBT has been positioned to challenge IBIT in the Bitcoin ETF market. During the Bitcoin 2026 conference, Amy Oldenburg, head of digital assets strategy at Morgan Strategy, said the firm has been recommending investors allocate 2-4% of their portfolios to Bitcoin.
Morgan Stanley manages about $9.2 trillion in total client assets. Based on that figure, MSBT could potentially attract as much as $368 billion, depending on investor adoption of the recommended allocation range.
IBIT holds an advantage in terms of scale: BlackRock manages nearly $14 trillion in assets, compared with Morgan Stanley’s $9.2 trillion, which comes mainly from client advisory services. Even so, BlackRock’s liquidity is cited as a competitive advantage in the Bitcoin space.
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