Morgan Stanley Bitcoin ETF to Make Market Debut This Wednesday
With a competitive fee of just 0.14%, the Morgan Stanley Bitcoin Trust will become the most affordable Bitcoin ETF available when it launches.
A Bitcoin exchange-traded fund from Morgan Stanley is scheduled to begin trading on Wednesday via the NYSE Arca stock exchange, marking a historic moment as the premier major commercial bank to roll out a Bitcoin ETF in the United States.
The New York Stock Exchange issued a listing notice on Tuesday confirming that the Morgan Stanley Bitcoin Trust (MSBT) will commence trading on April 8.
The debut of MSBT represents the first spot Bitcoin (BTC) ETF product to hit the marketplace in almost two years, following the introduction of Grayscale's Bitcoin Mini Trust ETF by the crypto asset manager in July 2024.
The market that MSBT is entering is highly competitive, with leadership held by BlackRock's iShares Bitcoin Trust ETF (IBIT) alongside the Fidelity Wise Origin Bitcoin Fund (FBTC), both of which have accumulated a total of $74.3 billion in net inflows since their January 2024 debuts, based on data from Farside Investors.
Despite the fact that Morgan Stanley faces the challenge of catching up to established competitors, the financial institution has strategically positioned MSBT with an industry-leading fee of just 0.14%, a move that could compel competing firms to reduce their own fees to maintain their competitive edge.
This bank happens to have 16k advisors managing $6T in assets. They are the ultimate gatekeepers of rich boomer money.
Bloomberg analyst Eric Balchunas
For its Bitcoin ETF, Morgan Stanley has previously announced its selection of Coinbase along with Bank of New York Mellon to serve as the proposed custodians.
Morgan Stanley has more crypto offerings in the pipeline
The introduction of MSBT will contribute to Morgan Stanley's bold expansion into the cryptocurrency market throughout this year. In February, the banking institution also submitted an application for a national trust banking charter that would grant it the authority to custody crypto assets, execute sales and swaps on behalf of clients, and provide staking services.
During the first week of January, the Wall Street banking giant also submitted filings to list both a staked Ether (ETH) ETF and a Solana (SOL) ETF. In the weeks that followed later that same month, the firm named Amy Oldenburg, one of the company's most tenured executives, to oversee and lead its digital asset division.