Morgan Stanley Files To Launch Cheapest U.S. Spot Bitcoin ETF

The proposed rate sits one basis point below Grayscale's Bitcoin Mini Trust, which currently holds the low-cost title at 0.15%.

Bitcoin News

Morgan Stanley filed an amended S-1 registration statement with the U.S. Securities and Exchange Commission on Friday, disclosing a 0.14% annualized sponsor fee for its proposed spot

ETF. That fee, if the fund is approved, would make it the least expensive spot Bitcoin product available to U.S. investors.

The

rate sits one basis point below Grayscale's Bitcoin Mini Trust, which currently holds the low-cost title at 0.15%, not counting temporary fee waivers from other providers. It also undercuts both BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund, which each charge 0.25%.

Bloomberg ETF analyst James Seyffart

the pricing as a "big move" and said the Morgan Stanley Bitcoin Trust is "likely to launch in early April." Fellow Bloomberg analyst Eric Balchunas

the approach "smart." Balchunas said none of Morgan Stanley's approximately 16,000 financial advisors would face a conflict recommending the fund at that price.

The bank’s financial advisors oversee a substantial pool of client assets. One source put that figure at approximately $9.3 trillion, while another cited $6.2 trillion. Either way, the firm's distribution network is central to the strategy.