Morgan Stanley Investment Management announced the launch of Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT), an exchange-traded product that tracks bitcoin performance. The trust began trading with a sponsor fee of 0.14%.

The launch makes Morgan Stanley Investment Management the first U.S. bank-affiliated asset manager to offer a cryptocurrency exchange-traded product, according to the company's statement.

MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, which aggregates trade flow from major bitcoin spot exchanges. Coinbase and BNY provide digital asset custody services for the trust, while BNY also serves as administrator and transfer agent.

"We are proud to introduce MSBT to the marketplace and believe this new ETP aligns with long-term trends in financial innovation," said Ben Huneke, Head of Morgan Stanley Investment Management.

The product expands Morgan Stanley Investment Management's exchange-traded fund suite, which launched in early 2023 and comprises 19 products with more than $12 billion in assets under management. The suite includes Calvert-branded, Parametric-branded, and Eaton Vance-branded funds.

Morgan Stanley Investment Management manages $1.9 trillion in assets under management or supervision as of December 31, 2025. The parent company Morgan Stanley (NYSE: MS) operates in 42 countries providing investment banking, securities, wealth management and investment management services.

The Securities and Exchange Commission has declared effective a registration statement for MSBT. The trust is not registered under the Investment Company Act of 1940 and carries investment risks including bitcoin volatility, regulatory uncertainty, and potential total loss of investment.