Morgan Stanley Launches MSBT Bitcoin ETF — First Major Wall Street Bank to Launch Its Own

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Morgan Stanley debuted the MSBT spot bitcoin ETF with a 0.14% expense ratio, undercutting BlackRock's dominant IBIT fund (0.25%) and becoming the first major Wall Street bank to launch its own Bitcoin-tracking ETF. Day-one performance was strong: 1.6M shares traded, $34M in inflows, and 430 BTC purchased, which Bloomberg ETF analyst Eric Balchunas said puts it in the top 1% of all ETF launches over the past year. Morgan Stanley's vast wealth management network could steer significant new flows away from BlackRock's $55B IBIT.