Morgan Stanley Launches Bitcoin ETF on NYSE

Bank's MSBT fund debuts with 0.14% fee, undercutting rivals

Apr. 8, 2026 at 4:13am

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A high-contrast black and white close-up image of the complex internal mechanisms and secure storage systems of a modern banking vault, representing the institutional power and financial security of Morgan Stanley's new Bitcoin ETF.Morgan Stanley's new Bitcoin ETF launch taps into the bank's vast financial infrastructure and advisor network to bring crypto investment products deeper into the mainstream.NYC Today

Morgan Stanley is launching its own spot Bitcoin ETF, MSBT, on the New York Stock Exchange today. The fund will have a 0.14% expense ratio, lower than BlackRock's competing IBIT product at 0.25%. Morgan Stanley's network of 16,000 financial advisors may help drive early distribution and adoption of the new Bitcoin ETF.

Why it matters

The launch of MSBT marks the first Bitcoin ETF from a major US commercial bank, further mainstreaming crypto investment products. With lower fees than existing options, MSBT could attract significant interest from advisors and investors focused on cost. However, it will face stiff competition in an already crowded Bitcoin ETF market led by industry giants like BlackRock.

The details

The MSBT Bitcoin ETF will begin trading on the NYSE under the ticker symbol MSBT. The fund will have an expense ratio of 0.14%, undercutting the 0.25% fee charged by BlackRock's IBIT Bitcoin ETF. Morgan Stanley's broad network of 16,000 financial advisors, who oversee trillions in client assets, may help drive early distribution and adoption of the new product. The launch comes as US Bitcoin ETFs saw $471.3 million in single-day inflows, suggesting continued strong investor demand for crypto investment vehicles.

  • MSBT will begin trading on the NYSE on April 8, 2026.

The players

Morgan Stanley

A major US commercial bank that is launching its first Bitcoin ETF, MSBT, on the NYSE.

BlackRock

The asset management giant that currently leads the US Bitcoin ETF market with its IBIT product, which charges a 0.25% fee.

Eric Balchunas

A Bloomberg senior ETF analyst who commented on Morgan Stanley's potential advantages and the competitive Bitcoin ETF landscape.

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What they’re saying

“It's not going to knock off BlackRock and become the biggest, but I believe it will do well.”

— Eric Balchunas, Bloomberg Senior ETF Analyst

“You've got this product that's cheap enough where [allocations] won't look like a conflict of interest. Advisors could point to the low fee when recommending the fund.”

— Eric Balchunas, Bloomberg Senior ETF Analyst

What’s next

As the Bitcoin ETF market continues to evolve, investors will closely watch how MSBT performs against established players like BlackRock's IBIT. The competitive dynamics around fees and distribution will be key factors in determining the fund's success.

The takeaway

Morgan Stanley's entry into the Bitcoin ETF space with a low-cost product highlights the growing mainstream acceptance of crypto investment vehicles. However, the bank will need to leverage its extensive advisor network and brand recognition to stand out in an increasingly crowded market.