Morgan Stanley Bitcoin Trust Sees Strong Debut with $30 Million in Investments

Morgan Stanley's foray into the US crypto fund market has been marked by a strong debut for its Bitcoin ETF, Morgan Stanley Bitcoin Trust (MSBT). The fund, which offers exposure to bitcoin without directly buying the cryptocurrency, has attracted over $30 million in investments on its first trading day.

With a fee of 0.14%, MSBT is positioned as a tool for investors who want to gain access to the popular cryptocurrency through a traditional financial institution. The fund uses a hybrid custody model, with Bank of New York Mellon and Coinbase Custody serving as custodians.

Analysts believe that Morgan Stanley's large-scale infrastructure and broad investor audience will enable it to quickly close the gap with market leaders in the crypto ETF space. As a reminder, the average ETF lifespan has fallen to less than two years, according to Bloomberg experts.