Bitcoin ETFs MSBT and NGHT both launched on the same day, according to Bloomberg's Senior ETF Analyst Eric Balchunas. While Morgan Stanley's Bitcoin ETF, MSBT, is anticipated to succeed due to its strong distribution channels, the Bitcoin After Dark ETF (NGHT) experienced a modest start with trading volume surging on its second day. The long-term performance of NGHT remains uncertain, with potential for market recognition if it attracts significant capital inflows, or risk of marginalization if it does not.