Morgan Stanley

MSSE and MSOL match Morgan Stanley's bitcoin trust on fee. Both funds will stake a portion of their tokens and route the rewards back to investors.

The Stablecoin Reserves Portfolio invests exclusively in cash, short-dated US Treasuries and overnight repos, targeting the 100 per cent reserve requirement that the GENIUS Act imposes on payment stablecoin issuers.

The Goldman Sachs Bitcoin Premium Income ETF would use a covered-call strategy to generate yield from bitcoin's price swings, marking the bank's first proprietary crypto fund after years of scepticism.

Morgan Stanley's MSBT spot bitcoin ETF debuted on NYSE Arca with a 0.14 per cent fee — undercutting BlackRock's dominant IBIT — and attracted $34 million in first-day inflows, placing it in the top 1 per cent of all ETF launches this year.

The BlackRock iShares Bitcoin Trust absorbed $269.3 million on 9 April, its strongest one-day inflow since early March, even as Morgan Stanley's new MSBT fund and Fidelity's FBTC pulled in capital alongside it.

Morgan Stanley's Bitcoin Trust is expected to begin trading on NYSE Arca under the ticker MSBT as early as this week, with a 0.14 percent annual fee that undercuts BlackRock's market-leading fund and marks the first spot Bitcoin ETF issued directly by a major US bank.