Morgan Stanley launches MSBT — first spot Bitcoin ETP from a major U.S. bank; gains $100M+ in six days, undercutting IBIT on fees

first published 2026-04-17T05:30:08Z

Morgan Stanley Investment Management debuted MSBT, a spot bitcoin exchange-traded product issued by a major U.S. bank and listed on the NYSE. MSBT uses third-party custody and admin services, launched with over $100M in assets within six days, charges a 0.14% fee (vs IBIT’s 0.25%), and is distributed to roughly 16,000 financial advisors, increasing competition with issuers like IBIT, FBTC, HODL and GBTC.

AI Analysis

MSBT is the first spot bitcoin ETP issued by a major U.S. bank and launched on the NYSE; it amassed over $100M in assets within six days, charges a 0.14% fee (below IBIT’s 0.25%), and is being distributed to ~16,000 financial advisors — facts that point to faster institutional access and potential fund flows that intensify competition with existing issuers.

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