Morgan Stanley submitted a revised S-1 registration document on March 27, proposing an annual fee of 0.14% for its Bitcoin spot ETF. This is lower than all existing competitive products in the United States.
This fee is 0.25% lower than the **BlackRock** iShares Bitcoin Trust, which charges 11bp (0.11 percentage points), and the fund currently has net assets of $51.49 billion.
With this filing, Morgan Stanley now has the lowest fee structure in the $84 billion Bitcoin spot ETF market.
Bloomberg ETF analysts project that the launch of the Morgan Stanley Bitcoin Trust (MSBT) could occur in early April 2026, contingent on SEC approval.
Market accessibility provided by the distribution network
Morgan Stanley's wealth management division manages approximately $6.2 trillion in client assets through a network of about 16,000 financial advisors. The bank has previously allowed advisors to provide clients with access to third-party Bitcoin ETFs.
Bloomberg analyst **Eric Balchunas** noted that the low fees make it so that 'the approximately 16,000 financial advisors at Morgan Stanley do not feel conflicted in recommending this product to their clients.' These advisors manage assets across traditional financial accounts, including traditional brokerage accounts, individual retirement accounts (IRAs), and 401(k) plans.
**Coinbase** will act as the prime broker and custodian for Bitcoin holdings, while **BNY Mellon** will handle cash and administrative tasks. The New York Stock Exchange announced on March 24 that the official listing notice for MSBT indicated that the launch is 'imminent.'
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Part of a broader cryptocurrency product strategy
Morgan Stanley submitted the first application for a Bitcoin spot ETF on January 6, 2026, along with the Solana ETF application. Later that month, it also applied for a staking Ethereum (ETH) ETF.
On February 18, Morgan Stanley also applied for a national trust bank charter to provide cryptocurrency custody, trading, and staking services.
The bank appointed **Amy Oldenburg** as the head of digital asset strategy in January, a long-time executive.
The U.S. Bitcoin spot ETF has recorded a cumulative net inflow of $55.93 billion since its launch in January 2024, holding about 7% of the global Bitcoin supply.
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