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Home/Markets & Investing/CRYPTO IRS RULING · BITCOIN ETF

Morgan Stanley's Bitcoin ETF Undercuts BlackRock to Capture Wealth Management Assets

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Beau St. James

crypto IRS ruling · Apr 9, 2026

Morgan Stanley's Bitcoin ETF Undercuts BlackRock to Capture Wealth Management Assets

Source: DojiDoji Data Terminal

Investors now have the cheapest spot Bitcoin ETF in the United States. Morgan Stanley has launched the Morgan Stanley Bitcoin Trust (MSBT), which carries a 0.14% expense ratio. This fee undercuts BlackRock's iShares Bitcoin Trust (IBIT), which charges 0.25%.

Related Brief3d ago
crypto etfs

Morgan Stanley's 11-basis-point fee gap creates a default choice for wealth managers

Wealth managers can now allocate new inflows to the lowest-cost spot bitcoin ETF available. Morgan Stanley Investment Management launched the Morgan Stanley Bitcoin Trust (MSBT) on April Stanley Bitcoin Trust (MSBT) on April 8, 2026, as the first U.S. bank-affiliated asset manager to offer a crypto ETP. MSBT carries an expense ratio of 0.14%, which is 11 basis points lower than the 0.25% fee charged by BlackRock's iShares Bitcoin Trust (IBIT). This 44% reduction in cost creates immediate competitive pressure on the bitcoin ETP landscape. Morgan Stanley commands a network of 16,000 financial advisors who oversee $9.3 trillion in client assets. These advisors can shift client allocations to MSBT in the आपकी भाषा में a single trade. MSBT drew $34 million in net inflows and processed more than 1.6 million shares on its first day.

Through its wealth-management arm, Morgan Stanley has a built-in distribution engine of 16,000 financial advisors. The bank can now funnel high-net-worth and institutional clients into its own proprietary product rather than sending assets and fees to competitors.

Related Brief3d ago
cryptocurrency

Morgan Stanley's Bitcoin Trust Integrates Crypto-Native Custody into Brokerage Accounts

Investors gain spot bitcoin exposure through standard brokerage accounts. The Morgan Stanley Bitcoin Trust (MSBT), launched on April 8, tracks the price of the bitcoin using the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. The trust holds bitcoin directly for investors, splitting operational duties between a crypto-native firm and a traditional bank. Coinbase Custody Trust Company manages the crypto custody and prime-broker operations. BNY Mellon handles fund administration, transfer agency, cash custody, accounting, and shareholder records. To reduce hacking risk, most of the trust's bitcoin holdings are kept in offline cold storage, with a smaller portion moved into hot wallets when authorized participants create or redeem shares in cash or in-kind. This makes MSBT the first cryptocurrency ETP offered by a U.S. bank-affiliated asset manager.

On its first day of trading on NYSE Arca on April 8, MSBT attracted between $30.6 million and $32 million in net inflows and logged more than 1.6 million shares in volume. The fund logged $34 million in trading volume.

Related Brief3d ago
digital assets

BlackRock’s $40.67 Million Inflow Fails to Offset $124.25 Million in Bitcoin ETF Outflows

Institutional investors pulled $124.25 million from US-listed spot Bitcoin ETFs on April 8. Fidelity’s FBTC led the retreat with $79.12 million in outflows, followed by Ark’s ARKB, which shed $74.7 million and Grayscale’s GBTC, which lost $11.1 million. BlackRock’s IBIT stood alone with $40.67 million in net inflows. The total net outflow indicates more investors are exiting spot Bitcoin ETFs than entering them, as BlackRock's inflow was insufficient to offset the broader selling.

crypto IRS rulingBitcoin ETF

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