Morgan Stanley has officially launched its Bitcoin ETF in a bid to battle BlackRock’s institutional crypto dominance.
The Morgan Stanley Bitcoin Trust (MSBT) is now available to the bank’s investment clients, who hold more than $9 trillion in assets.
The bank’s global head of ETFs, Allyson Wallace, tells Bloomberg that the numbers show Bitcoin is here to stay.
“We really wanted to show our commitment by having that lower fee.
The demand, especially from the high-net-worth investors, has been quite high. Viewed at the firm level, this is an asset class that is not going away.”
Morgan Stanley’s new spot Bitcoin ETF (MSBT) charges a 0.14% annual expense ratio.
That undercuts BlackRock’s iShares Bitcoin Trust (IBIT) fee of 0.25% by 11 basis points, making it the lowest-cost option among major U.S. spot Bitcoin ETFs.
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The post Morgan Stanley Launches Bitcoin ETF, Says Top Crypto Asset Is Here To Stay Among High-Net-Worth Accumulation appeared first on The Daily Hodl.
