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Morgan Stanley is set to launch its spot bitcoin exchange-traded product, the Morgan Stanley Bitcoin Trust (MBST), on April 8.
Morgan Stanley will launch its own spot bitcoin ETF, MBST, on April 8, 2024.
KEY POINTS
- MBST will charge a 0.14% annual fee, undercutting BlackRock's IBIT and other competitors.
- Morgan Stanley is the first major U.S. bank to issue, not just distribute, a spot bitcoin ETF.
- MBST will use Coinbase as custodian and BNY Mellon for administration and cash custody.
- The product targets internal wealth management clients, potentially shifting ETF flows significantly.
COMPANIES
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