Overview
- The bank’s amended S-1 filed Friday set a 0.14% fee for the Morgan Stanley Bitcoin Trust, undercutting Grayscale’s 0.15% and BlackRock’s 0.25%.
- NYSE Arca has posted a listing notice for the ticker MSBT, yet shares cannot trade until the SEC declares the registration effective.
- Morgan Stanley named Coinbase for Bitcoin custody and BNY Mellon for fund services, and the trust would track Bitcoin’s price without using leverage or derivatives.
- The firm’s roughly 16,000 financial advisors overseeing about $6.2 trillion could shift client money quickly into a cheaper fund because the exposure is the same but the cost is lower.
- Bloomberg analysts say an early April launch is possible pending approval, and they expect the cut-rate fee to intensify competition across the roughly $83 billion U.S. spot-Bitcoin ETF market.