TLDR Tech / Crypto
Morgan Stanley Launches MSBT, First Bank-Issued Spot Bitcoin ETF
Morgan Stanley launched MSBT on NYSE Arca. It is the first spot bitcoin ETF issued by a major US bank and recorded $34M in first-day volume with pricing at a 0.14% fee, undercutting BlackRock's IBIT. Bloomberg senior ETF analyst Eric Balchunas placed the debut in the top 1% of all ETF launches and projects MSBT could reach $5B AUM in year one. Custody is handled by Coinbase, and the fund leverages Morgan Stanley's OCC charter, with IBIT still holding the lead at roughly $55B in AUM.
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