Morgan Stanley launches MSBT spot Bitcoin ETF on NYSE Arca — $30.6M day-one inflows, lowest fee (0.14%), trails BlackRock

first published 2026-04-08T18:16:19Z

Morgan Stanley listed the Morgan Stanley Bitcoin Trust (MSBT, NYSE Arca) on April 8 as the first spot bitcoin ETF issued by a major U.S. bank. MSBT holds physical bitcoin (no leverage/derivs), is custodied by Coinbase Custody with BNY Mellon handling cash custody/administration, and was seeded with ~50,000 shares (~$1M). At a 0.14% annual fee it is the lowest‑cost U.S. spot bitcoin ETF. Morgan Stanley’s 16,000 financial advisors (managing $9.3T) provide a proprietary distribution channel; the bank is also pursuing Ethereum and Solana trusts and plans retail crypto trading on E*Trade in H1 2026.

AI Analysis

First major U.S. bank to issue a spot bitcoin ETF under its own name; product holds physical bitcoin and uses Coinbase Custody and BNY Mellon; seeded with ~50,000 shares (~$1M); fee 0.14% is lowest among U.S. spot bitcoin ETFs; Morgan Stanley’s 16,000 advisors oversee $9.3T and provide a large distribution channel — facts that support bullish market interest but the initial seed size was small.

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