Morgan Stanley has officially launched a Bitcoin ETF in an attempt to fight BlackRock’s institutional cryptocurrency dominance.
The Morgan Stanley Bitcoin Trust (MSBT) is now available to the bank’s investment clients, who hold more than $9 trillion in assets.
Global Head of ETFs at the Bank, Alison Wallace, He tells Bloomberg says the numbers show that Bitcoin is here to stay.
“We really wanted to show our commitment by having these lower fees.
Demand was very high, especially from high net worth investors. If we look at it at a company level, this is an asset class that is not going away.”
Morgan Stanley’s new Bitcoin ETF (MSBT) charges an annual expense ratio of 0.14%.
This reduces BlackRock’s 0.25% iShares Bitcoin Trust (IBIT) fee by 11 basis points, making it the lowest-cost option among the major U.S. Bitcoin ETFs.
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