Morgan Stanley Launches Bitcoin ETP MSBT, Draws $100M in Six Days

Morgan Stanley launched bitcoin exchange-traded product MSBT, and the product drew more than $100 million in its first six trading days. Amy Oldenburg said all of those inflows came from self-directed clients because advisors had not yet begun offering the product on the wealth platform. Oldenburg said Morgan Stanley is pursuing an OCC digital trust charter that would let the bank custody crypto directly and offer spot crypto trading. Oldenburg also said U.S. banks may eventually hold bitcoin on their own balance sheets, but Federal Reserve requirements, Basel rules, and multiple global regulators remain hurdles.

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