Morgan Stanley Bitcoin Trust Set to Launch on NYSE
More than two years after the first 11 spot bitcoin ETFs began trading in the U.S., a 12th, issued by a top-10 Wall Street bank with $1.9 trillion in assets under management, could debut Wednesday.
The Morgan Stanley Bitcoin Trust could start trading on NYSE Arca under the ticker MSBT, according to Bloomberg's ETF Analyst Eric Balchunas, who cited an NYSE listing notice pointing to an April 8 launch.
Key Details of the New ETF
The ETF will hold actual bitcoin and track the CoinDesk Bitcoin Benchmark 4 PM NY Settlement Rate. It does not use leverage, derivatives, or active trading to beat bitcoin's price swings. BNY and Coinbase Custody will handle bitcoin storage, and the fund is launching with about $1 million in initial capital (seed) and 50,000 shares ready for trading.
Like its peers, the fund gives investors exposure to the cryptocurrency without having to own or safeguard it themselves.
Where it stands out is on cost: the trust charges a 0.14% annual fee, undercutting BlackRock’s iShares Bitcoin Trust at 0.25% and most rivals.
A Milestone for Institutional Adoption
The impending launch marks a milestone for the market, signaling the first time a major U.S. bank is bringing a spot bitcoin ETF to investors. It underscores the surging demand for exposure to alternative assets like bitcoin.
Morgan Stanley is pushing deeper into digital assets, having filed earlier this year for spot Solana ETFs and planning to roll out trading in bitcoin, ethereum and solana on E*Trade in the first half of 2026 via a collaboration with Zero Hash.
The Impact of Spot Bitcoin ETFs
Spot ETFs have become a go-to vehicle for institutions seeking exposure to the cryptocurrency. Since the first 11 funds debuted in January 2024, they have collectively drawn more than $56 billion in net inflows, according to data source SoSoValue.
Activity in derivatives linked to these products has surged as well, with the mechanics of options tied to iShares Bitcoin Trust widely seen as amplifying bitcoin’s price slide in early February.
These alternative investment vehicles have driven the mainstream financialization of Bitcoin, helping to dampen its volatility. Market dynamics have evolved, with BTC’s implied volatility increasingly mirroring Wall Street’s fear gauge, the VIX – rising during price declines and falling during rallies.
Morgan Stanley’s upcoming ETF is likely to reinforce these trends.
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