Morgan Stanley Investment Management (MSIM) has launched the Morgan Stanley Bitcoin Trust (MSBT), marking its latest move into digital asset investment strategies.
The exchange-traded product (ETP) is designed to track the performance of bitcoin, with custody provided by Coinbase and BNY. BNY will also act as administrator and transfer agent, delivering accounting, recordkeeping and cash management services.
Ally Wallace, global head of ETF strategy at MSIM, said: “ETPs remain a powerful way for investors to gain exposure to new asset classes within a transparent and regulated framework.
“With MSBT, we’re extending our product offering to meet growing client interest in digital assets. This builds on our track record of launching compelling investment strategies in the ETF wrapper to help investors meet their investment objectives.”
The product tracks bitcoin using the CoinDesk Bitcoin Benchmark 4pm New York settlement rate, based on aggregated trade flow from major spot exchanges.
MSBT carries a unitary delegated sponsor fee of 0.14%, the lowest among bitcoin ETPs at launch.
