Morgan Stanley Launches MSBT as Bitcoin ETF Fee War Deepens
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Morgan Stanley launched the Morgan Stanley Bitcoin Trust (MSBT) on April 8 on NYSE Arca, bringing a major wealth manager into the US spot Bitcoin ETF market. MSBT charges a 0.14% sponsor fee (vs BlackRock IBIT 0.25%); analyst Eric Balchunas forecasts $5B first-year AUM and $30M day-one volume, intensifying the Bitcoin ETF fee war and signaling potential institutional inflows. The launch comes amid a Bitcoin pullback since the October 2025 peak, an aggressive timing that nonetheless advances crypto ETF adoption and competition in the market.
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- Morgan Stanley launched the Morgan Stanley Bitcoin Trust, ticker MSBT, on April 8 to offer a crypto ETP.
- MSBT carries a 0.14% sponsor fee, which undercuts BlackRock’s IBIT at 0.25%.
- Eric Balchunas projected $5 billion in first-year AUM and $30 million in day-one volume for MSBT.
Morgan Stanley has officially entered the U.S. spot Bitcoin ETF market with the launch of Morgan Stanley Bitcoin Trust (MSBT), a move that pushes one of Wall Street’s biggest wealth platforms directly into the category. The firm announced the launch on April 8 and said the product trades on NYSE Arca under the ticker MSBT.
The launch arrives with aggressive pricing and a difficult market backdrop. Morgan Stanley is entering after Bitcoin has already pulled back sharply from its October 2025 peak, but the bank is still choosing to launch now rather than wait for cleaner market conditi…
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