- Today is April 8th NYSE Arca will begin trading Bitcoin- a fund from Morgan Stanley with the ticker MSBT.
- This is the first BTC-ETF, launched over the past two years.
- MSBT’s competitive advantage is its low commission of only 0,14%.
Spot is set to debut on the NYSE Arca stock exchange on Wednesday, April 8. Bitcoin- a fund from Morgan Stanley under the ticker MSBT. Thus, Morgan Stanley will become the first major commercial bank to offer bitcoin ETF in the U.S..
It is also the first BTC fund to hit the market in nearly two years, since Grayscale launched in July 2024. introduced Bitcoin Mini Trust.
MSBT enters a competitive market already dominated by iShares ETFs Bitcoin Trust ETF (IBIT) from BlackRock and Bitcoin- Fidelity’s Fidelity Wise Origin (FBTC) fund, which has raised a total of $74,3 billion since its launch in January 2024.
At the same time, Morgan Stanley is trying to attract investors by setting the lowest MSBT fee at 0,14%. This could force competitors to cut costs to remain competitive.
An American bank has apparently decided to take a prominent place in the crypto industry. In February, Morgan Stanley applied for a national banking license, which would allow it to hold digital assets, handle sales and swaps for clients, and offer staking services. The financial institution has also applied to launch an ETH staking service.ETF и Solana-ETF.
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