Morgan Stanley's bitcoin ETF opens today, giving BlackRock’s $55 billion IBIT fund its toughest rival yet

What Happened

Morgan Stanley began trading its bitcoin ETF (MSBT) Tuesday with a 0.14% expense ratio, undercutting BlackRock's iShares Bitcoin Trust (IBIT) at 0.25%. IBIT holds $55 billion in assets and leads in liquidity and trading volume. Morgan Stanley's advantage lies in its wealth management network and lower fees. Analysts expect competition to intensify as fee sensitivity grows, though IBIT's liquidity edge remains difficult to challenge. Both funds track bitcoin's price directly.

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