Morgan Stanley’s Bitcoin ETF is about to hit the market. This is what Bloomberg Intelligence Exchange Traded Fund Analyst Eric Balchunas showed this Wednesday: The Morgan Stanley Bitcoin ETF (MSBT) We received an official listing announcement from the New York Stock Exchange (NYSE).. According to Balchunas, this management step typically takes place just before the fund debuts on the market.
The notification comes eight days after Morgan Stanley filed a second amendment to its S-1 Form with the U.S. Securities and Exchange Commission (SEC) on March 17. In that document: The bank confirmed its intention to list the fund on the NYSE Arca under the symbol MSBT.
Morgan Stanley Bitcoin Trust is a spot ETF: Store Bitcoin as a direct backup for the action and try to replicate the asset’s performance using the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate as a reference.
As reported by CriptoNoticias in a previous publication about this ETF, Bitcoin custody will be handled by Coinbase Custody Trust Company and Bank of New York Mellon (BNY).. Both institutions operate under a cold storage scheme that segregates assets from the custodian’s own assets.
One of the most anticipated points in the market is Fees charged by the Fund. Balchunas commented that these are 0.24% year-on-year.1 basis point below BlackRock’s iShares Bitcoin Trust (IBIT) interest rate (currently 0.25%). The final numbers are expected to be known in the coming days.
Fees are the deciding factor in this segment. The Bitcoin Spot ETF competes in a market dominated by BlackRock, which has $56 billion in assets under management and nearly $1.75 billion in daily trading volume.
With MSBT, Morgan Stanley joins a group of managers already offering exposure to Bitcoin through spot ETFs in the US, including BlackRock, Fidelity, Grayscale, Bitwise, ARK 21Shares, VanEck and Franklin Templeton.
The entry of one of the world’s largest investment banks into the Bitcoin ETF segment strengthens the trend of institutional adoption of this asset. Add competitive pressure to existing fundsespecially regarding the commission structure.
