MSBT Morgan Stanley Bitcoin Trust
Price Chart
Executive Summary
The Morgan Stanley Bitcoin Trust (MSBT) has become effective as an exchange-traded product, allowing it to begin issuing shares that track bitcoin's performance. The trust will hold bitcoin in custody via Coinbase and BNY Mellon and is structured as a continuous offering with no fixed size, meaning shares can be created or redeemed in baskets of 10,000.
Actionable Insight
Traders should monitor for the initial pricing and listing of MSBT shares, which could increase institutional demand for bitcoin. The continuous creation/redemption mechanism minimizes tracking error but may lead to operational flows around NAV.
Key Facts
- Morgan Stanley Bitcoin Trust (MSBT) is now effective and can begin issuing shares.
- The trust is structured as a continuous offering with no fixed size.
- Shares are expected to be listed on NYSE Arca and priced based on the CoinDesk Bitcoin Benchmark.
- Bitcoin is held in custody by Coinbase and BNY Mellon.
- The trust charges a 0.14% annual fee and does not use leverage or derivatives.
Financial Impact
No fixed offering size — proceeds will be used to acquire bitcoin as shares are created.
Risk Factors
- Bitcoin price volatility could impact the trust's NAV significantly.
- Regulatory scrutiny around crypto ETPs remains elevated.
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| EFFECT Filing (Primary) | 9999999995-26-001094 |
| Document: 9999999995-26-001094-index.html | 9999999995-26-001094 |
| Document: 9999999995-26-001094.txt | 9999999995-26-001094 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Apr 7, 2026
9w ago
|
EFFECT
| $25.20 $22.98 | ▼ −8.81% | ▼ −18.59% | $18.16 (−27.94%) |
|
Apr 3, 2026
9w ago
|
S-1/A
| $25.20 $22.98 | ▼ −8.81% | ▼ −17.79% | $18.16 (−27.94%) |
|
Apr 1, 2026
9w ago
|
S-1/A
| — | awaiting T+20 | — | — |
US Market Status
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