Key Takeaways:

Morgan Stanley launched the Morgan Stanley Bitcoin Trust (MSBT), they became the first U.S. bank to offer spot Bitcoin ETP.
The fund functions at a 0.14% management fee, the lowest in the current market, challenging leaders like BlackRock and Grayscale.
MSBT is designed for institutional investors, offering high transparency and deep integration with partners like Coinbase and BNY.

A New Leader in the Bitcoin Fee War
Morgan Stanley Investment Management (MSIM) launched the Morgan Stanley Bitcoin Trust (MSBT) on the NYSE Arca. According to the official announcement, the fund’s sponsor fee is set at 0.14%. This move makes MSBT the most affordable option for investors, undercutting BlackRock’s IBIT (0.25%) and Grayscale’s Mini Trust (0.15%). For large portfolios, this price difference represents a big saving in long-term management costs.

Introducing the Morgan Stanley Bitcoin Trust (MSBT), designed with transparent reporting and a 0.14% expense ratio, supported by a custody approach that brings together traditional considerations and crypto experience. Learn more about MSBT: https://t.co/BrUl0kV9dS
MSBT… pic.twitter.com/LLttR10rJf
— Morgan Stanley (@MorganStanley) April 8, 2026

Built for Institutional Safety and Transparency
MSBT is not just about low costs, it is built on a foundation of institutional security. The fund tracks Bitcoin’s performance using the CoinDesk Bitcoin Benchmark, which pulls data from major spot exchanges to make sure accurate pricing. To protect investor assets, Morgan Stanley partnered with Coinbase for secure storage (custody) and BNY for professional asset management. This structure will allow organizations to invest in Bitcoin through a familiar banking environment without the risks of holding the digital coins.
Leveraging a $6.2 Trillion Network
Morgan Stanley brings an advantage to the market: a network of 16,000 financial advisors who manage more than $6.2 trillion in client assets. Morgan Stanley can move institutional capital into the crypto space by offering the first Bitcoin ETP linked to a U.S. bank.
MSIM designed with transparent reporting and a 0.14% expense ratio
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The First Bank That Linked ETP
The arrival of MSBT represents the integration of one of the world’s most powerful banks into the crypto ecosystem. As the first Bitcoin ETP from a major U.S. bank, MSBT is expected to attract a new wave of capital from investors who have been waiting for a trusted banking brand to enter the space. 
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