Morgan Stanley’s spot BTC ETF could start trading on Wednesday.

Morgan Stanley to Launch New Bitcoin ETF

After more than two years since the first 11 Spot Bitcoin ETFs started trading in the U.S., a major Wall Street bank is set to introduce the 12th Bitcoin ETF. This new fund from Morgan Stanley, with assets under management totaling around $1.9 trillion, could make its debut on Wednesday.

The Morgan Stanley Bitcoin Trust is expected to trade on the NYSE Arca under the ticker MSBT, according to Bloomberg ETF analyst Eric Balciunas. The NYSE listing notice suggests a potential launch on April 8.

This ETF will hold actual Bitcoin and aims to track the CoinDesk Bitcoin Benchmark New York 4pm settlement rate. Notably, it doesn’t use leverage, derivatives, or engage in active trading to manage Bitcoin price fluctuations. Custodianship will be handled by BNY and Coinbase Custody, and the fund plans to start with around $1 million in initial capital and 50,000 shares available for trading.

Similar to its predecessors, this fund will let investors gain exposure to cryptocurrencies without having to own or secure them personally.

One of the most notable aspects is its cost. The trust’s annual fee is set at 0.14%, which is lower than BlackRock’s iShares Bitcoin Trust, priced at 0.25%, and most other competitors.

This upcoming launch signifies a significant moment for the market, marking the first instance of a major U.S. bank offering a spot Bitcoin ETF to investors. It underscores the increasing interest in alternative assets like Bitcoin.

Morgan Stanley is also deepening its commitment to digital assets, having filed for a Spot Solana ETF earlier this year. Additionally, they plan to trade Bitcoin, Ethereum, and Solana on E*Trade in the first half of 2026 through a partnership with Zero Hash.

Spot ETFs have become the preferred choice for institutions wanting to engage with cryptocurrencies. The initial 11 funds saw over $56 billion in net inflows since their launch in January 2024, according to SoSoValue data.

Moreover, there’s been noticeable growth in derivative trading related to these products. The option structures tied to the iShares Bitcoin Trust have been viewed as contributing to Bitcoin’s price drop earlier in February.

These alternative investment vehicles are playing a key role in bringing Bitcoin into mainstream finance, helping to stabilize its volatility. Market dynamics are shifting, with Bitcoin’s implied volatility increasingly aligning with Wall Street’s fear gauge, the VIX, rising during price declines and dropping during price increases.