Morgan Stanley has officially entered the digital asset era on 8th April, by launching the Morgan Stanley Bitcoin Trust (MSBT) on the NYSE Arca.
This landmark move makes it the first major American commercial bank to issue its own Bitcoin ETF. The fund allows both retail and institutional investors to track Bitcoin price movements through traditional broking accounts without the need to hold the cryptocurrency directly.
To gain a competitive edge over rivals like BlackRock and Fidelity, Morgan Stanley has set a market-low annual fee of 0.14%.
While the Bitcoin market has seen recent volatility, with prices consolidating between $65,000 and $70,000, the sector has remained stable with $471 million in net inflows this month.
This launch is part of a broader push by the bank, which includes applications for a national trust banking charter and potential Ether and Solana products.
Led by executive Amy Oldenburg, Morgan Stanley is now using Coinbase and Bank of New York Mellon as custodians, firmly anchoring its presence within the evolving global crypto landscape.
Source: X.com
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment