Bitcoin

Morgan Stanley Bitcoin ETF expected to launch on Wednesday

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Morgan Stanley Bitcoin ETF expected to launch on Wednesday

Morgan Stanley Bitcoin Trust will be the cheapest Bitcoin ETF on the market with a very low fee of 0.14%.

Morgan Stanley’s Bitcoin exchange-traded fund is scheduled to list on the NYSE Arca stock exchange on Wednesday, making it the first major commercial bank to offer a Bitcoin ETF in the United States.

The launch of Morgan Stanley Bitcoin Trust (MSBT) on April 8 was confirmed through a listing announcement on the New York Stock Exchange on Tuesday.

NYSE listing announcement for MSBT launch on Wednesday, April 8. source: New York Stock Exchange

MSBT will be the first spot Bitcoin (BTC) ETF product to enter the market in nearly two years, after cryptocurrency asset manager Grayscale launched its Bitcoin Mini Trust ETF in July 2024.

MSBT is entering a competitive market dominated by BlackRock’s iShares Bitcoin Trust ETF (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC). FBTC has seen total net inflows of $74.3 billion since its launch in January 2024, according to Farside Investors data.

While Morgan Stanley plays catch-up, the bank will set its fees on MSBT at a market-low 0.14%, potentially putting pressure on rivals to cut costs to remain competitive.

“The bank has 16,000 advisors managing $6 trillion in assets. They are the ultimate gatekeepers of wealthy boomer money,” said Bloomberg analyst Eric Balchunas.

source: James Seypart

Morgan Stanley previously selected Coinbase and Bank of New York Mellon as custodians for its Bitcoin ETF.

Morgan Stanley has more cryptocurrency products in the pipeline.

The launch of MSBT will add to Morgan Stanley’s aggressive push into the cryptocurrency market this year. The bank also applied for a National Trust Bank Charter in February, which would allow it to store cryptocurrencies, conduct sales and exchanges for customers, and provide staking services.

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The Wall Street bank also filed paperwork to list the Staked Ethereum (ETH) ETF and Solana (SOL) ETF in the first week of January. Later that month, it appointed Amy Oldenburg, one of the company’s longest-serving executives, to lead its digital assets team.

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