Morgan Stanley Enters Digital Assets Market with New Bitcoin ETF

Morgan Stanley Investment Management (MSIM), the asset management division of Morgan Stanley, has made a major foray into the digital assets market with the launch of its Morgan Stanley Bitcoin Trust exchange-traded fund (ETF).

The ETF, which tracks the performance of Bitcoin, is the first US-bank-affiliated asset manager to offer a cryptocurrency fund. BNY Mellon will serve as the administrator and transfer agent for the fund.

The Morgan Stanley Bitcoin Trust will be based on the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, which measures the one-hour volume-weighted average price of Bitcoin against the US dollar.