VIDEO: ETF of the Week: MSBT

Morgan Stanley launched the Morgan Stanley Bitcoin Trust (MSBT), a new spot Bitcoin ETF with a low 14 basis-point expense ratio that picked up roughly $35 million on its first day. VettaFi’s Todd Rosenbluth says MSBT offers the same spot-Bitcoin exposure as existing products (BlackRock’s IBIT, Fidelity, Grayscale) but at a cheaper fee, which could pressure fee-sensitive investors and nudge flows toward lower-cost wrappers. Morgan Stanley’s large advisor franchise (≈16k–17k advisors) may help distribution, though liquidity considerations and tax consequences for switching funds remain relevant. The product is unlikely to change Bitcoin’s fundamentals, but it may increase ETF adoption and intensify competition among spot-Bitcoin ETFs.