Morgan Stanley Bitcoin Trust (MSBT)
Funds & ETFs
The Morgan Stanley Bitcoin Trust (MSBT) is a proposed spot Bitcoin ETF filed with the SEC by Morgan Stanley in January 2026 and under review as of March 2026. If approved, MSBT would be the first spot Bitcoin ETF issued directly by a major US bank. The fund would be listed on NYSE Arca, custodied by Coinbase, with cash and administrative services provided by BNY Mellon. Benchmarked against the CoinDesk Bitcoin Benchmark 4PM New York rate.
Details
- Aum
- ~$1M seed capital
- Type
- Bitcoin Trust ETF
- Issuer
- Morgan Stanley
- Status
- Pending SEC approval
- Ticker
- MSBT
- Country
- USA
- Manager
- Morgan Stanley
- Exchange
- NYSE Arca (proposed)
- Custodian
- Coinbase Custody (cold storage); BNY Mellon (cash/admin)
- Fund Type
- ETF
- Filing Date
- 2026-01-06
- Launch Note
- S-1 filed January 6, 2026. Second amendment filed March 2026. Not yet trading as of March 2026.
- Amended Date
- 2026-03-20
- Bitcoin Only
- Yes
- Seed Capital
- $1M (seed investors)
- Expense Ratio
- ~0.20-0.30% (estimated, not yet finalized)
- Exchange Listed
- NYSE Arca (proposed)
- Expected Exchange
- NYSE Arca
- Physically Backed
- Yes
More Funds & ETFs
iShares Bitcoin Trust (IBIT)
iShares Bitcoin Trust (IBIT) is BlackRock's spot Bitcoin ETF, launched on January 11, 2024, on Nasdaq. IBIT became the fastest ETF in history to reach $10 billion in AUM, achieving it in under two months. As the world's largest asset manager, BlackRock's entry validated institutional demand for Bitcoin exposure. IBIT uses Coinbase Custody as its custodian and charges a 0.25% annual sponsor fee (discounted to 0.12% for the first year on initial assets). It is now the largest spot Bitcoin ETF globally.
MicroStrategy (MSTR)
Strategy (formerly MicroStrategy, NASDAQ: MSTR) is a business intelligence software company that transformed into the world's largest corporate Bitcoin holder under CEO Michael Saylor. Beginning in August 2020, Strategy began converting its treasury reserves to Bitcoin and has continued relentless accumulation, funding purchases through equity and convertible debt offerings. As of early 2026, Strategy holds over 500,000 BTC, making it by far the single largest non-government Bitcoin holder. MSTR stock trades at a significant premium to its Bitcoin NAV.
21Shares Bitcoin ETP Dubai (ABTC)
21Shares Bitcoin ETP (ABTC) is the Middle East's first physically-backed Bitcoin ETP, cross-listed on Nasdaq Dubai in October 2022. It provides direct exposure to Bitcoin through physical holdings with the same product infrastructure as 21Shares' European ETPs. The listing made Bitcoin investment accessible through a regulated Middle Eastern exchange for the first time, supporting the UAE's ambition to become a global crypto hub.
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