Morgan Stanley (MS) plans to undercut its competitors by charging an ultra-low fee on its new spot Bitcoin (BTC) exchange-traded fund (ETF).
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The Wall Street investment bank plans to charge just 14 basis points (0.14%) on its new BTC ETF, a level below current low-cost options for similar products, according to a filing with the U.S. Securities and Exchange Commission (SEC).
Analysts have been quick to say that Morgan Stanley’s pricing could set off a new round of fee competition among spot Bitcoin funds. Existing Bitcoin ETFs typically charge 15 to 25 basis points to investors. The lowest fee on the market today is Grayscale’s Bitcoin Mini Trust ETF that carries a 0.15% expense ratio. BlackRock’s (BLK) iShares Bitcoin Trust (IBIT) charges 0.25%.
New ETF Competition
Spot Bitcoin ETFs offer near-identical exposure to the cryptocurrency, so funds tend to differentiate themselves on price. Investors can easily move from one spot Bitcoin ETF to another with a single trade, keeping the same exposure while lowering their fees.
Morgan Stanley’s spot Bitcoin ETF is expected to begin trading on the New York Stock Exchange in the coming week under the ticker symbol “MSBT.” The fund is the first new entrant among about a dozen spot Bitcoin ETFs since the others listed in 2024. Morgan Stanley is proceeding with its Bitcoin ETF despite the current crypto winter.
BTC’s Three-Month Performance
The chart below shows that Bitcoin has struggled in recent months and declined 20.82% in the last 12 weeks as the selloff in cryptocurrencies that began in October 2025 continues.
