Wall Street's Cheapest Bitcoin ETF Made $400 Million Without Lifting A Finger — Executive Sees More Assets Ahead

Morgan Stanley has a sponsor fee of 0.14%, 11 basis points less than BlackRock’s iShares Bitcoin Trust.

• Morgan Stanley’s Amy Oldenburg said the company’s Bitcoin Trust has pulled in more than $400 million since April, with about half coming before advisors or the sales team got involved. 
• In July, E*TRADE from Morgan Stanley began spot trading for Bitcoin, Ethereum and Solana at 50 basis points via Zero Hash.
• The three-asset list “will continue to evolve,” and self-custody and transfers are on the roadmap, Oldenburg said.

Morgan Stanley's (MS) head of digital asset strategy, Amy Oldenburg, said the cheapest spot Bitcoin (BTC) fund on Wall Street has brought in more than $400 million since April before its sales team even recommended it. 

The first $200 million or so into the Morgan Stanley Bitcoin Trust (MSBT) was all self-directed, client-placed trades that came in on brand recognition rather than distribution, Oldenburg said on Saturday, speaking with Scott Melker at the Out East Summit on Long Island’s North Fork. She said advisor-driven activity has also increased in recent weeks. 

More Assets To Come

E*TRADE from Morgan Stanley launched its spot crypto platform in July, allowing eligible clients to buy, sell, and hold Bitcoin, Ethereum (ETH), and Solana (SOL) at 50 basis points through digital asset infrastructure provider Zero Hash.