Morgan Stanley filed a spot Bitcoin ETF application with the U.S. Securities and Exchange Commission on March 18, 2026, under the ticker MSBT, set to list on NYSE Arca. The fund will use Coinbase Custody for digital asset storage and BNY Mellon for cash management. An initial creation basket of 50,000 shares will raise $1 million in seed capital to acquire Bitcoin before trading begins. Management fees and other operational details were not disclosed in the filing.
Wall Street's Reversal: From Skepticism to Direct Participation
Between 2017 and 2020, major financial figures labeled Bitcoin a risk. Jamie Dimon called it “worse than tulip bulbs,” Warren Buffett described it as “rat poison squared,” and Larry Fink referred to it as “an index of money laundering.” But the SEC’s approval of 11 spot Bitcoin ETFs in January 2024 transformed the landscape. Morgan Stanley, managing $1.2 trillion in wealth assets, has allowed advisors to pitch Bitcoin ETFs for years. Now, it is launching its own product—a direct step into crypto markets.
Bitcoin ETF Boom: $23 Billion Inflows in 2025 Alone
Since the SEC green light, spot Bitcoin ETFs have accumulated over $120 billion in total assets under management. Net inflows in 2025 alone reached $23 billion, making this the fastest-growing ETF category in history. Morgan Stanley’s entry represents the first direct product offering from a major U.S. bank, combining traditional banking infrastructure with cryptocurrency exposure. Once approved, the bank plans to distribute shares through its wealth management platform. The filing also hints at preparations for other crypto ETFs, including Ethereum and Solana products. The SEC must still grant approval; under generic listing standards, the fund could go effective within weeks pending regulatory review.