Morgan Stanley Investment Management (MSIM) introduced as we speak the launch of Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT), an exchange-traded product (ETP) that seeks to trace the efficiency of bitcoin.
MSIM is the primary U.S. bank-affiliated asset supervisor to supply a cryptocurrency ETP, and displays a continued, firmwide focus by Morgan Stanley to develop digital asset options designed to satisfy evolving consumer demand.
“We are proud to introduce MSBT to the marketplace and believe this new ETP aligns with long-term trends in financial innovation and serves to strengthen the range of investments we provide investors,” mentioned Ben Huneke, Head of Morgan Stanley Investment Management. “MSBT is an example of how leveraging Morgan Stanley’s collective strength and deep expertise across asset classes and market segments can add value for existing clients, unlock new investor opportunities and continue to pursue compelling and innovative investment ideas that solve investor challenges.”
“ETPs remain a powerful way for investors to gain exposure to new asset classes within a transparent and regulated framework,” mentioned Ally Wallace, Global Head of ETF Strategy at Morgan Stanley Investment Management. “With MSBT, we’re extending our product offering to meet growing client interest in digital assets. This builds on our track record of launching compelling investment strategies in the ETF wrapper to help investors meet their investment objectives.”
The addition of MSBT expands MSIM’s exchange-traded capabilities and reinforces the continuing efforts to supply broader entry to a variety of funding choices throughout conventional and rising asset lessons. The MSBT launch builds on Morgan Stanley’s current investments throughout the digital asset ecosystem, together with the appointment of devoted management to information firmwide digital asset methods and ongoing efforts to develop institutional-grade capabilities throughout custody, buying and selling and product improvement.
“Digital assets are increasingly intersecting with traditional markets, and our focus is on helping clients access that evolution through structures they understand and trust,” mentioned Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley. “MSBT reflects our firmwide approach to thoughtfully building digital asset capabilities grounded in traditional governance and market infrastructure that seeks to meet long-term client needs. We believe that our ability to simplify how investors access their complete portfolio across asset classes and investment types will resonate with our clients and investors across the globe.”
MSBT seeks to trace the efficiency of bitcoin, as measured by the efficiency of the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate (the “Pricing Benchmark”), which is calculated based mostly on an aggregation of executed commerce circulate of main bitcoin spot exchanges. MSBT’s unitary delegated sponsor charge is 0.14%, which is at the moment the bottom bitcoin ETP sponsor charge as of this launch.
Coinbase and BNY have been chosen to supply digital asset custody providers for MSBT. BNY additionally serves because the administrator and switch agent and can present accounting, recordkeeping and money administration providers.
Launched in early 2023, MSIM’s suite of ETFs just lately surpassed $12 billion in belongings below administration and includes 19 merchandise together with 5 Calvert-branded ETFs, three Parametric-branded ETFs and 11 Eaton Vance-branded mounted earnings ETFs.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, along with its funding advisory associates, has greater than 1,400 funding professionals around the globe and $1.9 trillion in belongings below administration or supervision as of December 31, 2025. Morgan Stanley Investment Management strives to supply excellent long-term funding efficiency, service, and a complete suite of funding administration options to a various consumer base, which incorporates governments, establishments, firms and people worldwide. For additional details about Morgan Stanley Investment Management, please go to www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a number one world monetary providers agency offering a variety of funding banking, securities, wealth administration and funding administration providers. With places of work in 42 international locations, the Firm’s workers serve purchasers worldwide together with firms, governments, establishments and people. For extra details about Morgan Stanley, please go to www.morganstanley.com.
IMPORTANT NOTICE
A registration assertion relating to those securities has been declared efficient by the U.S. Securities and Exchange Commission (“SEC”). Before you make investments, you need to learn the prospectus in that registration assertion and different paperwork MSBT has filed with the SEC for extra full details about MSBT and the providing. You could get these paperwork totally free by visiting EDGAR on the SEC’s web site at www.sec.gov. Alternatively, the Fund or any approved participant will prepare to ship you the prospectus (when accessible) when you request it by calling (833) 903-2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101. This press launch shall not represent a proposal to promote or a solicitation of a proposal to purchase, nor shall there be any sale of these securities in any state or jurisdiction wherein such supply, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
An funding in MSBT entails a excessive diploma of threat, together with the volatility of bitcoin, potential deviations between the market worth of the MSBT’s shares and MSBT’s internet asset worth, regulatory uncertainty, custody and operational dangers, and the chance of a complete loss of funding. MSBT just isn’t registered below the Investment Company Act of 1940, as amended. Neither the SEC nor every other regulatory authority has authorized or disapproved of MSBT’s shares. Any illustration on the contrary is a legal offense. Investors ought to fastidiously overview MSBT’s prospectus, together with the “Risk Factors” part, earlier than investing.
Morgan Stanley Bitcoin Trust ETF Disclosure
Investing in digital belongings entails threat, together with attainable loss of principal. An funding in Morgan Stanley Bitcoin Trust ETF (“MSBT” or the “Fund”) is topic to a excessive diploma of threat and heightened volatility. MSBT just isn’t appropriate for any investor that can’t afford loss of the whole funding.
The Fund has filed a registration assertion (together with a prospectus) with the SEC for the providing to which this communication relates. Before you make investments, you need to learn the prospectus in that registration assertion and different paperwork the Fund has filed with the SEC for extra full details about the Fund and this providing. To receive a present prospectus, go to EDGAR on the SEC Web website at www.sec.gov. Alternatively, the Fund or any approved participant will prepare to ship you the prospectus (when accessible) when you request it by calling (833) 903-2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101.
Foreside Fund Services, LLC is the Marketing Agent for MSBT.
This info should be preceded or accompanied by a prospectus, click on here to view or obtain prospectus. We advise you to think about the fund’s goals, dangers, expenses and bills fastidiously earlier than investing. The prospectus comprises this and different vital details about the fund. Please learn the prospectus fastidiously earlier than you make investments.
The Fund just isn’t registered below the Investment Company Act, 1940 (the “40 Act”) and isn’t topic to regulation below the 40 Act, not like most mutual funds or ETFs. The Fund could commerce at a premium or low cost to its internet asset worth. The Fund is new and has a restricted working historical past upon which buyers could base an analysis of its doubtless efficiency.
The worth of the Fund relates on to the worth of the underlying digital asset it holds, the worth of which is very unstable and topic to fluctuations attributable to a quantity of elements.
The Fund depends on third get together service suppliers to carry out sure features important to the affairs of the Trust. Some of these service suppliers will not be topic to federal regulation and oversight and the alternative of such service suppliers may pose a problem to the safekeeping of the digital asset and to the operations of the Fund.
No assure or illustration is made that the Fund’s funding technique, together with, with out limitation, its funding goals or methods, will likely be profitable, and funding outcomes could range considerably over time. Nothing herein is meant to suggest that the Fund’s funding methodology or that investing could also be thought-about “conservative,” “safe,” “risk free,” or “risk averse.”
This materials just isn’t a proposal or solicitation of any variety to purchase or promote any securities exterior of the United States of America. Nothing on this content material ought to be thought-about a solicitation to purchase or a proposal to promote shares of any funding in any jurisdiction the place the supply or solicitation could be illegal below the securities legal guidelines of such jurisdiction, neither is it meant as funding, tax, monetary, or authorized recommendation. Investors ought to search such skilled recommendation for his or her specific state of affairs and jurisdiction.
Digital Asset Risk Disclosures
Many digital belongings, together with Bitcoin, have skilled important volatility in buying and selling costs in current intervals and should proceed to expertise such volatility sooner or later. Such volatility in digital asset costs may have a fabric opposed impact on the worth of the Fund and the shares may lose all or considerably all of their worth.
Digital belongings characterize a brand new and quickly evolving business. The worth of the Fund relies upon, amongst different issues, on the acceptance of the digital belongings generally and Bitcoin particularly, the capabilities and improvement of blockchain applied sciences and the basic funding traits of Bitcoin.
Digital asset networks are developed and maintained by a various set of contributors and the notion that sure contributors will now not contribute to the community or could lower their contributions to, or involvement with the community may have an opposed impact available on the market worth of the associated digital asset.
Digital belongings could have concentrated possession and enormous gross sales or distributions by holders of such digital belongings may have an opposed impact available on the market worth of such digital belongings.
The Fund holds Bitcoin; nevertheless, an funding within the Fund just isn’t a direct funding in Bitcoin. As a non-diversified and single business fund, the worth of the shares could fluctuate greater than shares invested in a broader vary of industries. Because the worth of the Fund is correlated with the worth of Bitcoin, you will need to perceive the funding attributes of, and the marketplace for, the underlying digital asset (Bitcoin). Please seek the advice of together with your monetary skilled.
A considerable direct funding in digital belongings could require costly and typically sophisticated preparations in reference to the acquisition, safety and safekeeping of the digital asset and should contain the fee of substantial charges to 3rd get together service suppliers via money funds of U.S. {dollars}.
Regulation of digital belongings, together with Bitcoin, continues to evolve throughout completely different jurisdictions worldwide, which can trigger uncertainty and insecurity as to the authorized and tax standing of a given digital asset. As Bitcoin and digital belongings have grown in each reputation and market measurement, the U.S. Congress and a quantity of U.S. federal and state businesses have been inspecting the operations of digital asset networks, digital asset customers and the digital asset spot market. Many of these state and federal businesses have introduced enforcement actions and issued advisories and guidelines referring to digital asset markets. Ongoing and future regulatory actions with respect to digital belongings typically or any single digital asset particularly could alter, maybe to a materially opposed extent, the character of an funding within the Fund.
The Delegated Sponsor doesn’t retailer, maintain, or keep custody or management of the Fund’s digital belongings however as a substitute has entered into Custodial Services Agreements with a 3rd events to facilitate the safety of its Bitcoin. The Custodians management and safe the Fund’s Bitcoin, in segregated custody accounts to retailer non-public keys, which permits for the switch of possession or management of the Fund’s Bitcoin, on the Fund’s behalf. If a Custodian resigns or is eliminated by the Delegated Sponsor or in any other case, with out alternative, it may set off early termination of the Fund.
The internet belongings of the Fund and its shares are valued each day just about CoinDesk Bitcoin Benchmark Rate, a standardized reference charge revealed by COINDESK®. COINDESK® and the Fund’s relevant reference charge (the “Index”) are commerce or service marks of CoinDesk Indices, Inc. (with its associates, together with CC Data Limited, “CDI”), and/or its licensors. CDI or CDI’s licensors personal all proprietary rights within the Index. CDI just isn’t affiliated with Morgan Stanley Investment Management Inc. and doesn’t approve, endorse, overview, or advocate the Fund. CDI doesn’t assure the timeliness, accurateness, or completeness of any information or info referring to any Index and shall not be liable in any method to Morgan Stanley Investment Management Inc., buyers in or holders of any of the Fund or different third events in respect of the use or accuracy of any Index or any information included therein.
Before investing choice, you need to fastidiously think about the danger elements and different info included within the prospectus.
Investors ought to be conscious that investing in MSBT just isn’t equal to investing immediately in bitcoin.
Forward-Looking Statements
Certain statements contained herein and in any associated supplies could represent forward-looking statements throughout the that means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can typically be recognized by the use of phrases akin to “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or related expressions, or the unfavorable of such phrases. These statements are based mostly on present expectations, estimates, assumptions, and projections and are topic to important dangers, uncertainties, and different elements which will trigger precise outcomes, efficiency, or developments to vary materially from these expressed or implied by such statements. Forward-looking statements converse solely as of the date on which they’re made. The Fund undertakes no obligation to replace or revise any forward-looking assertion, whether or not in consequence of new info, future occasions, or in any other case, besides to the extent required by relevant regulation.
Risk Considerations
Digital belongings are extremely unstable and unpredictable. Their worth is influenced however not restricted to, by provide and demand, investor confidence and their willingness to buy it utilizing conventional currencies, inflation, rates of interest, foreign money change charges, altering rules within the U.S. and overseas, and financial traits. Investors additionally face dangers akin to worth swings, flash crashes, fraud, and cybersecurity threats. Digital belongings could also be extra weak to market manipulation than securities.
Blockchain is a shared, immutable ledger that facilitates the method of recording transactions and monitoring belongings in a enterprise community.
Cryptocurrency (notably, Bitcoin) operates as a decentralized, peer-to-peer monetary change and worth storage that’s used like cash. It just isn’t backed by any authorities. Federal, state or overseas governments could limit the use and change of cryptocurrency. Cryptocurrency could expertise very excessive volatility.
NOT FDIC INSURED. OFFER NO BANK GUARANTEE. MAY LOSE VALUE. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT A DEPOSIT.
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