Morgan Stanley Launches Lowest-Fee Spot Bitcoin ETF in the U.S., with 0.14% Annual Fee

BroadChain03/30/2026, 08:41 PM

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Summary

Morgan Stanley has launched its spot Bitcoin ETF, ticker MSBT, with an annual fee of just 0.14%, the lowest in the U.S. The fund is custodied by Coinbase and features cash management provided by BNY Mellon. It is the first spot Bitcoin ETF directly issued by a major U.S. bank. Morgan Stanley plans to drive retail trading through its extensive network of financial advisors and the E*Trade platform, further expanding access to the cryptocurrency market.

BroadChain has learned that the New York Stock Exchange (NYSE) has approved the listing of Morgan Stanley's spot Bitcoin ETF, set to trade under the ticker "MSBT" on NYSE Arca starting March 30.

Morgan Stanley filed its S-1 registration in January 2026, seeding the fund with $1 million. The ETF holds physical Bitcoin, with Coinbase providing cold-storage custody and BNY Mellon managing cash, administration, and transfer agent services.

MSBT carries an annual expense ratio of 0.14%, undercutting Grayscale's minimum fee of 0.15% and BlackRock's IBIT at 0.25%, positioning it as the lowest-cost spot Bitcoin ETF in the U.S. market.

This marks the first spot Bitcoin ETF launched directly by a major U.S. bank. With over 16,000 financial advisors, Morgan Stanley also plans to offer retail crypto trading through its E*Trade platform.

The U.S. spot Bitcoin ETF market currently manages roughly $83 billion in assets. Analysts anticipate trading for MSBT to begin within the coming days or weeks.