Morgan Stanley Investment Management (MSIM) has launched a new exchange-traded product (ETP) designed to track the performance of bitcoin.
The product, called the Morgan Stanley Bitcoin Trust (MSBT), is intended to mirror bitcoin returns.
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Morgan Stanley Investment Management head Ben Huneke said: “MSBT is an example of how leveraging Morgan Stanley’s collective strength and deep expertise across asset classes and market segments can add value for existing clients, unlock new investor opportunities and continue to pursue compelling and innovative investment ideas that solve investor challenges.”
MSIM said it is the first US bank-affiliated asset manager to offer a cryptocurrency ETP.
In a statement, the firm said MSBT will track bitcoin as measured by the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, which is calculated using aggregated executed trade flow from major bitcoin spot exchanges.
The trust carries a unitary delegated sponsor fee of 0.14%, which MSIM described as the “lowest” bitcoin ETP sponsor fee at the time of release.
Coinbase and BNY have been selected to provide digital asset custody services for MSBT.
BNY will also act as administrator and transfer agent, and will provide accounting, recordkeeping and cash management services.
MSIM said the launch builds on its recent work across the digital asset ecosystem, including appointing dedicated leadership to guide firmwide digital asset strategy.
Launched in early 2023, MSIM’s ETF range has recently surpassed $12bn in assets under management and comprises 19 products, including five Calvert-branded ETFs, three Parametric-branded ETFs and 11 Eaton Vance-branded fixed income ETFs.
Amy Oldenburg, head of digital asset strategy at Morgan Stanley, said: “MSBT reflects our firmwide approach to thoughtfully building digital asset capabilities grounded in traditional governance and market infrastructure that seeks to meet long-term client needs.
“We believe that our ability to simplify how investors access their complete portfolio across asset classes and investment types will resonate with our clients and investors across the globe.”
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,400 investment professionals worldwide and $1.9 trillion in assets under management or supervision as of 31 December 2025.
