Morgan Stanley Bitcoin Trust Set for April 8 Launch

Morgan Stanley's entry into the spot bitcoin ETF market is expected to bring significant changes to the industry. The launch of the Morgan Stanley Bitcoin Trust (MBST) on April 8 marks a major step for a U.S. bank entering this market with its own product. MBST will trade under the ticker MSBT US and is structured as an exchange-traded product that holds bitcoin directly.

The fund's fee structure is designed to undercut existing competitors, charging a 0.14% annual fee compared to roughly 0.25% charged by BlackRock's IBIT and most other U.S. spot bitcoin ETFs. This move signals a strategy aimed at gaining share through cost leadership and internal distribution.

Morgan Stanley's wealth division oversees trillions in client assets and includes a large network of financial advisors. A lower-cost in-house product could allow those advisors to allocate to bitcoin without recommending third-party funds that carry higher fees.