Morgan Stanley's new spot bitcoin exchange-traded fund, MSBT, has rapidly attracted over $100 million in inflows during its inaugural week. Launched on April 8, the fund offers a market-leading expense ratio of 0.14%, making it the cheapest option available.
This aggressive pricing strategy, combined with Morgan Stanley's extensive wealth management network, positions MSBT to compete directly with established players like BlackRock's IBIT, which has accumulated over $53 billion since its January 2024 launch.
Morgan Stanley's entry is also spurring rivals. Goldman Sachs has filed for its own Bitcoin Premium Income ETF, signaling a broader shift among major financial institutions to embrace digital assets and develop more sophisticated crypto investment products.