Morgan Stanley Debuts Bitcoin Trust, Expanding Into Digital Investments
Morgan Stanley Investment Management announced the launch of a new exchange-traded product. The Morgan Stanley Bitcoin Trust trades under the ticker MSBT on NYSE Arca.
Product overview
MSBT is an ETP designed to track bitcoin performance. The fund references the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate.
The product aims to give investors regulated exposure to bitcoin. MSIM positions the product as part of its broader move into digital investments.
Fees and structure
MSBT carries a unitary delegated sponsor fee of 0.14 percent. At the time of the launch, that fee was the lowest among bitcoin ETP sponsors.
The delegated sponsor does not hold the fund’s digital assets. Custodians maintain custody of the underlying bitcoin in segregated accounts.
Custody and service providers
Coinbase and BNY Mellon were selected to provide custody services for MSBT. BNY Mellon also serves as administrator and transfer agent.
BNY will provide accounting, recordkeeping and cash management services. The arrangement relies on third-party custodial agreements.
Firm strategy and leadership
MSIM said the launch reflects a firmwide focus on developing digital asset solutions. The move follows appointments of dedicated digital asset leadership.
Senior managers highlighted ETPs as a familiar wrapper for new asset classes. Executives said the trust builds on Morgan Stanley’s investment franchise.
Scale and related ETF business
MSIM’s ETF lineup launched in early 2023 and surpassed $12 billion in assets under management. The suite consists of 19 products.
- Five Calvert-branded ETFs
- Three Parametric-branded ETFs
- Eleven Eaton Vance-branded fixed income ETFs
As of December 31, 2025, MSIM reported about 1,400 investment professionals. The firm reported $1.9 trillion in assets under management or supervision.
Index, registration and disclosures
MSBT uses the CoinDesk Bitcoin Benchmark as its pricing benchmark. CoinDesk Indices owns the reference rate and related intellectual property.
A registration statement for the trust has been declared effective by the U.S. Securities and Exchange Commission. Investors should review the prospectus on EDGAR.
Risk summary
The fund carries high volatility and distinct custody and operational risks. MSBT is not registered under the Investment Company Act of 1940.
The SEC has neither approved nor disapproved the shares. The prospectus warns investors that they could lose their entire investment.
For more information and links to regulatory filings, visit Filmogaz.com.
