$34M Day One: Morgan Stanley MSBT Shakes Bitcoin ETF Race

Morgan Stanley MSBT launched with $34M in first-day inflows and a 0.14% fee, the lowest ever for a U.S. Bitcoin ETF, reshaping the competitive race.

0.14% — the lowest fee ever attached to a U.S. Bitcoin ETF. On April 8, Morgan Stanley MSBT (Morgan Stanley Bitcoin Trust ETP) began trading on NYSE Arca, igniting a fee war in a market now worth more than $128 billion in total assets. This is not just another ETF launch — it marks the first time a major U.S. bank has manufactured its own spot Bitcoin product. Read more »

Strait of Hormuz Blocks $104 Oil and Breaks Global Trade

Closure of the Strait of Hormuz disrupts 10 million barrels of daily oil flow, sending crude toward $104 and fracturing global trade routes overnight.

Ten million barrels of oil, gone every day. When U.S. and Israeli strikes on Iran triggered hostilities on February 28, 2026 and Iran effectively closed the Strait of Hormuz on March 4, global energy markets entered structural shock — Brent crude gained 30.72% in just three weeks as aviation, food, fertilizer, and European natural gas markets fractured simultaneously. The cascade is still in motion, and the final damage has not yet been tallied. Read more »