A spot bitcoin ETF launched by Morgan Stanley drew in approximately $34 million in inflows Wednesday on its first day of trading, marking a win for the bitcoin ecosystem after months of stalled price action. Trading under the ticker MSBT on the New York Stock Exchange, Morgan Stanley’s spot bitcoin ETF charges a 0.14% expense ratio, making it the lowest-cost bitcoin ETF in a space dominated by BlackRock’s iShares Bitcoin Trust. The launch coincided with a positive day for crypto, after markets moved higher with the news the US and Iran had reached a ceasefire agreement.