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Morgan Stanley's Bitcoin exchange-traded fund began trading on the NYSE Arca exchange under the ticker MSBT on April 8. It is the first spot Bitcoin ETF issued by a major US bank, making Morgan Stanley the largest traditional financial institution to offer direct crypto investment exposure to clients.
MSBT carries a low 0.14% annual expense ratio, undercutting BlackRock's iShares Bitcoin Trust (IBIT) and most competitors. The fund holds actual bitcoin, tracks the CoinDesk Bitcoin Benchmark 4 PM NY Settlement Rate, and does not use leverage, derivatives, or active trading. Custody is handled by BNY and Coinbase Custody, two of the most trusted names in institutional digital asset safekeeping.
Morgan Stanley's 16,000 financial advisors are ready to offer MSBT to clients, and analysts expect large inflows in the opening days given that the bank serves $9.3 trillion in client assets. Bitcoin's price ticked up in early trading as news of the launch spread and demand for institutional crypto exposure continued to accelerate.
Spot Bitcoin ETFs have attracted more than $56 billion in net inflows since their debut, and they have reshaped the market's volatility profile. Morgan Stanley's entry signals that other major Wall Street banks — including JPMorgan, Bank of America, and Wells Fargo — may soon follow with similar products, according to industry analysts.
Company executives said MSBT is just the beginning of a broader digital asset strategy, with an Ethereum ETF and structured crypto products in development. The first week of inflows will be closely watched as a barometer of institutional appetite for crypto, with some projections suggesting $2-4 billion in assets under management within the first month.
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