Morgan Stanley Set to Launch Spot Bitcoin ETF

Morgan Stanley is making headlines in the cryptocurrency space with its upcoming launch of a spot bitcoin ETF. The Morgan Stanley Bitcoin Trust will be listed on NYSE Arca under the ticker MSBT and will track the CoinDesk Bitcoin Benchmark 4 PM NY Settlement Rate.

The fund will hold actual bitcoin, using BNY and Coinbase Custody for storage, and will charge an annual fee of 0.14 percent. This fee is significantly lower than that of BlackRock's iShares Bitcoin Trust and most rivals, making it an attractive option for investors.

This move marks a significant milestone for the market, as it signals the first time a major U.S. bank has brought a spot bitcoin ETF to investors. With more than $56 billion in net inflows since the debut of the first 11 spot bitcoin ETFs, it's clear that institutions are increasingly turning to these alternative investment vehicles.