2026-4-9 18:53 |
Morgan Stanley has launched the Morgan Stanley Bitcoin (BTC) Trust on NYSE Arca under the ticker MSBT, becoming the first major US bank to issue a spot BTC exchange-traded fund (ETF).
The fund enters a crowded field of more than 10 spot BTC ETFs that collectively hold over $85 billion in assets.
Competing on Cost and DistributionETF analyst Eric Balchunas predicts $5 billion in assets under management within the first year and $30 million in day-one trading volume.
BIG BOY LAUNCH: Morgan Stanley Bitcoin ETF $MBST hits the market today, arguably biggest btc launch since they began. Here are our predictions: $5b in aum in first year and $30m in Day One volume. What do you think? Winner gets a QT and a feeling of pride. pic.twitter.com/iQKpFJ80mU
— Eric Balchunas (@EricBalchunas) April 8, 2026MSBT carries an expense ratio of 14 basis points, making it the cheapest spot BTC fund on the market. That undercuts Grayscale Investments’ BTC by one basis point and BlackRock’s iShares Bitcoin Trust (IBIT) by 11 basis points.
IBIT currently dominates with roughly 60% of total category assets.
“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,” Bloomberg reported, citing Allyson Wallace, Global Head of ETFs at Morgan Stanley Investment Management.
Morgan Stanley Wealth Management oversees approximately 16,000 financial advisers and trillions in client assets.
Since 2024, those advisers have been permitted to recommend third-party BTC ETFs such as IBIT and Fidelity’s FBTC. Now, MSBT keeps the management fee in-house.
Balchunas noted that the aggressive fee positioning signals strong demand from financial advisers.
big boys can afford to be late.. altho they smart enough to bring some differentiation in the low fee
— Eric Balchunas (@EricBalchunas) April 8, 2026 A Down Market EntryThe timing is notable. BTC has fallen more than 40% from its October peak near $126,199 and traded for $71,307 on launch day.
Bitcoin Price Performance. Source: BeInCryptoSpot BTC ETFs experienced four consecutive months of net outflows between November 2025 and February 2026, totaling roughly $6.3 billion.
Bitcoin ETF Monthly Flows. Source: SoSoValueMarch reversed that streak with $1.32 billion in inflows, though Q1 2026 still ended with a modest net outflow.
Morgan Stanley’s willingness to launch into a down market signals that the bank views the current slump as a buying opportunity rather than a reason to wait.
ETF analyst Nate Geraci highlighted another product launching the same day, the Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT).
Also launching today…
Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT)
Provides long btc exposure during overnight hours & short-term treasury exposure during daytime trading.
“First-ever ETF strategy built to systematically isolate Bitcoin’s overnight alpha.” pic.twitter.com/p4tkRdZnyf
This financial instrument provides long BTC exposure exclusively during overnight hours and rotates into short-term Treasuries during the US trading session.
What Comes NextMorgan Stanley’s ETF ambitions extend beyond BTC. The bank filed S-1 registrations in January for both an Ethereum trust and a Solana trust.
It also plans to roll out retail crypto trading on E-Trade in the first half of 2026.
Coinbase Custody Trust Co. and Bank of New York Mellon will provide digital-asset custody services for MSBT.
The fund launched with roughly $1 million in initial seed capital and 50,000 shares available for trading.
Whether Balchunas’ $5 billion target holds will depend on how quickly Morgan Stanley’s adviser network redirects allocations, and whether BTC can stabilize long enough to bring sidelined investors back into the market.
The post $5 Billion in Year One? Bold Prediction On Morgan Stanley’s Bitcoin ETF appeared first on BeInCrypto.
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