Morgan Stanley (MS) Investment Management announced the launch of Morgan Stanley Bitcoin (BTC-USD) Trust, an exchange-traded product that seeks to track the performance of bitcoin. MSBT seeks to track the performance of bitcoin, as measured by the performance of the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, which is calculated based on an aggregation of executed trade flow of major bitcoin spot exchanges. MSBT’s unitary delegated sponsor fee is 0.14%, which is currently the lowest bitcoin ETP sponsor fee as of this release. Coinbase (COIN) and BNY have been selected to provide digital asset custody services for MSBT. BNY also serves as the administrator and transfer agent and will provide accounting, recordkeeping and cash management services.
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