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The cheapest bitcoin ETF yet: Morgan Stanley uses 0.14% fee to draw $100 million in first week
Morgan Stanley’s new MSBT fund has quickly attracted over $100 million by offering the market’s lowest fees, sparking a fresh wave of competition from rivals like Goldman Sachs.
Apr 16, 2026, 9:37 a.m.
What to know:
- Morgan Stanley’s new spot bitcoin ETF, MSBT, has attracted more than $100 million in its first week, making it the firm’s most successful ETF launch to date.
- With a 0.14% expense ratio, MSBT is the cheapest spot bitcoin ETF and benefits from Morgan Stanley’s vast wealth management network, though it remains far smaller than BlackRock’s $53 billion IBIT fund.
- Goldman Sachs’s filing for a Bitcoin Premium Income ETF and BlackRock’s work on similar income-focused products highlight a broader shift as major Wall Street firms race to offer more structured bitcoin investments.
Still, cost is only part of the story. MSBT enters the market with a built-in distribution advantage through Morgan Stanley’s vast wealth management business, which oversees trillions of dollars in client assets. The firm’s network of financial advisors provides a direct channel to investors who may prefer gaining exposure to bitcoin through managed portfolios rather than trading on crypto-native platforms.
That reach could prove critical as the spot bitcoin ETF market matures. While MSBT’s early inflows are notable, the fund remains far smaller than BlackRock’s iShares Bitcoin Trust (IBIT), which has amassed more than $53 billion in assets since launching in January 2024 and dominates the category.
