Morgan Stanley cuts ETF fees
Morgan Stanley launched the MSBT Bitcoin Trust with a 0.14% fee, undercutting existing U.S. spot Bitcoin ETFs and likely to intensify a fee war among major issuers. The product’s rock‑bottom pricing could pressure incumbents’ margins and shift where institutional flows land. (nationaltoday.com)
Morgan Stanley’s amended S‑1 confirms the trust will trade under the ticker MSBT and NYSE Arca has issued a listing notice for the product. (The Block — ) The filing sets creation units at 10,000 shares and describes an initial seed basket of 50,000 shares that will raise roughly $1 million at launch. (The Block — ) Morgan Stanley disclosed it purchased two shares on March 9 for audit purposes as part of the ETF operational setup. (The Block — ) Coinbase Custody is named to hold the fund’s bitcoin while BNY Mellon is listed as cash custodian, administrator and transfer agent in the S‑1 amendment. (The Block — ) The filing identifies Virtu Americas, Jane Street Capital and Macquarie Capital as authorised participants tasked with creation and redemption activity for MSBT. (Coin360 — ) The registration states the trust will support both cash and in‑kind creations and redemptions, using a 10,000‑share creation unit structure to maintain intraday liquidity and arbitrage efficiency. (CoinDesk — ) Morgan Stanley’s wealth channel contains roughly 16,000 financial advisors managing about $6.2 trillion in client assets, a distribution footprint cited in coverage of the MSBT filing. (Yahoo Finance — ) Bloomberg ETF analysts have noted that an NYSE listing notice is typically a near‑launch indicator for ETFs, signaling the MSBT product could begin trading imminently if regulatory clearance follows. (Yahoo Finance — )
