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Home/Markets & Investing/HSA ELIGIBILITY IRS RULING · CRYPTO IRS RULING

Morgan Stanley’s Spot Bitcoin ETF Undercuts Competitors to Capture Wealth Management Flows

FV

Felix Vane

HSA eligibility IRS ruling · Apr 9, 2026

Morgan Stanley’s Spot Bitcoin ETF Undercuts Competitors to Capture Wealth Management Flows

Source: DojiDoji Data Terminal

Investors in Morgan Stanley's new spot Bitcoin ETF can pay a fee of 0.14%, a rate that undercuts BlackRock’s IBIT at 0.25% and Grayscale’s Bitcoin Mini Trust at 0.15%.

Related Brief2d ago
cryptocurrency etfs

Morgan Stanley's 0.14% Bitcoin ETF forces a fee reduction for spot funds

Investors in existing crypto ETFs may switch holdings to reduce management costs. Morgan Stanley launched its spot Bitcoin ETF, MSBT, on April 8 with an expense ratio of 0.14%. The rate undercuts Grayscale's Bitcoin Mini Trust ETF at 0.15% and BlackRock's iShares Bitcoin Trust at 0.25%. To retain assets, other ETF providers must now lower their fees. Morgan Stanley is the first U.S. bank to offer a bitcoin-based ETF, which drew $34 million in investment on its first day of trading. The fund tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. The bank's 16,000 wealth advisors, managing between $6.2 trillion and $7 trillion in client assets, can now recommend the fund directly to clients. These advisors can allocate 2% to 4% of growth portfolios to the firm-endorsed vehicle. Other brokerage firms may now engage with Bitcoin ETFs to avoid losing assets under management to Morgan Stanley.

Launched April 8 on the NYSE Arca, the MSBT fund marks the first time an asset manager affiliated with a U.S. bank has issued its own spot Bitcoin ETF. Previously, the bank distributed crypto products designed by others. The fund uses BNY Mellon for traditional custody and Coinbase for crypto-native infrastructure.

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geopolitics

US-Iran Peace Talks Center on Unfreezing Billions in Iranian Assets

Iran is demanding the release of billions of dollars in Iranian cash held overseas since 1979. The United States is considering a partial unfreezing of these assets. These discussions are part of ceasefire talks in Islamabad between the United States and Iran regarding Iran's war with Israel. Pakistan is mediating the negotiations, with US Vice President JD Vance arriving in Islamabad on Saturday. Iranian Vice President emphasizes that a deal is likely to be reached if the US prioritizes 'America First'—a strategy prioritizing American national interests and economic self-sufficiency—over 'Israel First.' The success of the discussions relies on the US meeting Iranian objectives regarding the release of funds and the stop of combat in Lebanon.

By issuing its own branded vehicle, Morgan Stanley is positioning itself to capture flows from its wealth management division, which oversees more than $6 trillion in client assets. The product allows financial advisors to integrate Bitcoin into client allocations through internal platforms, shifting the point of control from self-directed investors to the bank's network of thousands of advisors.

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Bitcoin's Rally to $73,000 Masked by Falling Trading Volume and Rising Inflation

Centralized exchange trading volume fell 48% from its October 2025 peak to $4.3 trillion in March, coinciding with a price rise to $73,085. Gasoline prices rose 21.2% in March, the largest monthly increase since the 1967. Headline CPI climbed to 3.3% year over year, up from 2.4% in February. These figures signal that inflation risks persist. The Federal Reserve is pressured to keep rates elevated. This creates pressure on risk assets including Bitcoin.

On its first day of trading, MSBT saw 1.6 million shares traded and $34 million in trading volume. The fund bought 430 BTC on its first day.

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BCE breaks 15-year dividend streak to fund U.S. fiber expansion

BCE shareholders saw a 7.95% share price decline over the last month. This follows the company's first dividend cut since 2009. The payout reduction coincides with the acquisition of U.S.-based Ziply Fiber. The shift in shareholder payout and cross-border footprint has contributed to a 36.39% decline in 3-year total shareholder return.

HSA eligibility IRS rulingcrypto IRS rulingBitcoin ETFSECURE 2.0 IRS guidance

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