Morgan Stanley Launches Spot Bitcoin ETF, Entering Crowded Market

MSBT to debut on NYSE Arca with lower fees than competitors

Apr. 8, 2026 at 8:19am

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An extreme close-up of the intricate inner workings of a banking vault or trading terminal, conveying the complex machinery and institutional power behind the launch of a new Bitcoin ETF.The launch of Morgan Stanley's spot Bitcoin ETF signals a new era of traditional finance embracing cryptocurrency-based investment products.NYC Today

Morgan Stanley is set to launch trading in its spot Bitcoin ETF, MSBT, on the NYSE Arca exchange on April 8. The fund will hold Bitcoin directly and charge an annual fee of 0.14%, undercutting the 0.25% fee of BlackRock's iShares Bitcoin Trust, the current market leader.

Why it matters

The launch of MSBT marks the first time a major Wall Street bank is issuing its own spot Bitcoin ETF, signaling growing mainstream adoption of crypto products. The competitive pricing could also put pressure on fees across the sector as the market becomes more crowded.

The details

MSBT will track the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate and use BNY Mellon and Coinbase Custody Trust Company as custodians. The initial seed for the listing is estimated at $1 million through the issuance of 50,000 shares.

  • MSBT is expected to begin trading on April 8, 2026.
  • The Grayscale Bitcoin Mini Trust launched in July 2024, the last new US spot Bitcoin ETF prior to MSBT.

The players

Morgan Stanley

A major Wall Street bank that is launching its own spot Bitcoin ETF, marking the first time a major US bank is issuing a crypto product.

BlackRock

The asset management firm that currently offers the largest spot Bitcoin ETF in the US, the iShares Bitcoin Trust (IBIT), which has attracted $63.3 billion in net inflows.

Fidelity

The financial services firm that offers the Fidelity Bitcoin ETF (FBTC), which has brought in $11.1 billion in net inflows, making it the second largest spot Bitcoin ETF in the US.

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What’s next

As MSBT begins trading, it will look to attract investor interest and compete with the existing market leaders, BlackRock's IBIT and Fidelity's FBTC, for assets under management.

The takeaway

The launch of MSBT, Morgan Stanley's spot Bitcoin ETF, marks a significant milestone as a major Wall Street bank enters the crypto ETF space. The competitive pricing could drive down fees across the sector as the market becomes more crowded, benefiting investors.