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MSBT

GradeANew York Stock Exchange Arca

Morgan Stanley Bitcoin Trust ETF

Crypto · Eaton Vance · Inception 2026-04-07 · SEC filings

$24.14−0.59 (−2.41%)

As of Sep 23, 2026, 2:18 PM EDT

History starts Apr 8, 2026.History starts Apr 8, 2026.History starts Apr 8, 2026.
Intraday session: down, 55 prints from 24.73 to 24.14. Range 24.01 to 24.60. Use the arrow keys to read each point.$24.00$24.40$24.6010 AM12 PM2 PM4 PM
Expense ratio
0.14%
Fund size
$858M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0.6M sh
NAV per share
$24.75
52W range
low $16.64high $25.20

The ETF.net MSBT Grade

A

75/ 100

Rank 2 of 13 in Spot Bitcoin⁠

Confidence Medium

Six-pillar profile for MSBT. Scores out of 100: Cost 98, Risk 65, Mission not scored, Tradability 52, Holdings 100, Durability 36. Strongest: Holdings (100). Weakest: Durability (36). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 75 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 98
    Category rank1/13 · top 8%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 65
    Category rank1/13 · top 8%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 52
    Category rank7/13 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 100
    Category rank2/2 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 36
    Category rank12/13 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on MSBT

ETF.net Research

AMorgan Stanley's own spot bitcoin vehicle, arriving late to a crowded field and competing on price: 0.14% a year, well under the category median. Plain plumbing, bitcoin held outright, no leverage and no derivatives.

Stated mandate

The Trust is a passive ETF designed to track bitcoin’s performance, as measured by its Pricing Benchmark, after expenses and liabilities. It will hold bitcoin and does not use leverage or derivatives.

Why people hold it

  1. 01At 0.14% a year, it prices under the 0.25% median of the spot bitcoin group and below shelf staples like BITB, HODL and ARKB.
  2. 02No clever wrapper: the trust holds bitcoin itself and tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, after expenses.
  3. 03Sits in the upper half of a 13-fund spot bitcoin cohort, helped by a clean single-asset portfolio and a fee near the low end of the group.

Worth knowing

  1. 01Bitcoin, straight up. The price moves with the coin, with no buffer or hedge, and the trust has made no distributions.
  2. 02It is a grantor trust, not a registered fund, so the governance and shareholder rulebook differ from a conventional ETF.
  3. 03Launched in 2026, so there is only a short record behind its tracking and trading behavior.

MSBT Holdings

As of Sep 20, 2026, 7:25 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
BITCOIN100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—BITCOIN100.00%8,072$655M11

Showing 1–1 of 1 holdings

MSBT Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MSBT$13,382
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. MSBT $13,382. SPY $10,415. Use the arrow keys to read each point.$8,774$11,266$13,758Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MSBT. Periods over one year show the average yearly return.
PeriodMSBT
Year to dateFund launched this year—
1 month+12.0%
3 months+33.8%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MSBT
YearReturn barMSBT
2026 YTD+20.8%

History from Apr 8, 2026

MSBT in the news

ETF.net Research hasn’t filed on MSBT yet — coverage lands here as it’s written.

MSBT Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

MSBT Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.01
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MSBT Cost

Expense ratio0.14%
  • The middle half of Spot Bitcoin funds
  • Median 0.23%

No Spot Bitcoin fund charges less.

MSBT costs $14.00 a year on $10,000. The median Spot Bitcoin fund costs $23.00.