Morgan Stanley Investment Management (MSIM) announced today the debut of the Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT), an exchange-traded product (ETP) designed to track the price performance of bitcoin.
MSIM has become the first U.S. bank-affiliated asset manager to launch a cryptocurrency ETP, a move that highlights Morgan Stanley’s ongoing commitment to creating digital asset solutions that address shifting client needs.
“We are proud to introduce MSBT to the marketplace and believe this new ETP aligns with long-term trends in financial innovation and serves to strengthen the range of investors,” said Ben Huneke, Head of Morgan Stanley Investment Management. “MSBT is an example of how leveraging Morgan Stanley’s collective strength and deep expertise across asset classes and market segments can add value for existing clients, unlock new investor opportunities and continue to pursue compelling and innovative investment ideas that solve investor challenges.”
“ETPs remain a powerful way for investors to gain exposure to new asset classes within a transparent and regulated framework,” said Ally Wallace, Global Head of ETF Strategy at Morgan Stanley Investment Management. “With MSBT, we’re extending our product offering to meet growing client interest in digital assets. This builds on our track record of launching compelling investment strategies in the ETF wrapper to help investors meet their investment objectives.”
The introduction of MSBT broadens MSIM’s exchange-traded capabilities and underscores the firm’s efforts to offer wider access to a diverse array of investment options across both traditional and emerging asset classes. This launch follows recent strategic investments by Morgan Stanley in the digital asset ecosystem, including the appointment of leadership to oversee firmwide digital asset strategies and the expansion of institutional-grade capabilities in trading, custody, and product development.
“Digital assets are increasingly intersecting with traditional markets, and our focus is on helping clients access that evolution through structures they understand and trust,” said Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley. “MSBT reflects our firmwide approach to thoughtfully building digital asset capabilities grounded in traditional governance and market infrastructure that seeks to meet long-term client needs. We believe that our ability to simplify how investors access their complete portfolio across asset classes and investment types will resonate with our clients and investors across the globe.”
MSBT aims to mirror the performance of bitcoin, utilizing the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate (the “Pricing Benchmark”), which is derived from the aggregated trade flow of major bitcoin spot exchanges. The trust features a unitary delegated sponsor fee of 0.14%, which stands as the lowest fee for a bitcoin ETP as of this announcement.
Coinbase and BNY have been appointed to handle digital asset custody for MSBT. Additionally, BNY will act as the administrator and transfer agent, managing accounting, recordkeeping, and cash management duties.
Since its inception in early 2023, MSIM’s ETF lineup has grown to exceed $12 billion in assets under management, encompassing 19 products, including five Calvert-branded ETFs, three Parametric-branded ETFs, and 11 Eaton Vance-branded fixed income ETFs.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, along with its investment advisory affiliates, employs over 1,400 investment professionals globally and managed or supervised $1.9 trillion in assets as of December 31, 2025. The firm is dedicated to delivering superior long-term investment results, quality service, and a broad suite of management solutions to a global client base, including corporations, governments, institutions, and individuals.
Morgan Stanley (NYSE: MS) is a premier global financial services firm offering a comprehensive suite of wealth management, investment banking, securities, and investment management services. With a presence in 42 countries, the firm serves a diverse international clientele.
Investors should thoroughly review the risk factors and other details provided in the prospectus before making any investment decisions.
It is important for investors to understand that purchasing MSBT is not the same as holding bitcoin directly.
Forward-Looking Statements
Certain statements contained herein and in any related materials may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions, or the negative of such terms. These statements are based on current expectations, estimates, assumptions, and projections and are subject to significant risks, uncertainties, and other factors that may cause actual results, performance, or developments to differ materially from those expressed or implied by such statements. Forward-looking statements speak only as of the date on which they are made. The Fund undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law.
Digital assets are highly volatile and unpredictable. Their value is influenced but not limited to, by supply and demand, investor confidence and their willingness to purchase it using traditional currencies, inflation, interest rates, currency exchange rates, changing regulations in the U.S. and abroad, and economic trends. Investors also face risks such as price swings, flash crashes, fraud, and cybersecurity threats. Digital assets may be more vulnerable to market manipulation than securities.
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.
Cryptocurrency (notably, Bitcoin) operates as a decentralized, peer-to-peer financial exchange and value storage that is used like money. It is not backed by any government. Federal, state or foreign governments may restrict the use and exchange of cryptocurrency. Cryptocurrency may experience very high volatility.
NOT FDIC INSURED. OFFER NO BANK GUARANTEE. MAY LOSE VALUE. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT A DEPOSIT.
