Morgan Stanley is set to launch its Bitcoin exchange-traded fund on Wednesday, April 8, on the NYSE Arca stock exchange. The Morgan Stanley Bitcoin Trust (MSBT) will debut with an ultra-low fee of 0.14%, positioning it as the cheapest Bitcoin ETF available.
This launch marks the first major commercial bank to offer a Bitcoin ETF in the US in nearly two years. MSBT enters a market currently led by BlackRock's iShares Bitcoin Trust ETF and Fidelity Wise Origin Bitcoin Fund.
Morgan Stanley has appointed Coinbase and Bank of New York Mellon as custodians for the ETF. The bank's expansion into crypto includes plans for a national trust banking charter to custody and trade crypto assets, as well as filings for staked Ether and Solana ETFs.