The firm said it is the first US-bank-affiliated asset manager to offer a cryptocurrency fund.
Morgan Stanley Investment Management (MSIM), the asset management division of Morgan Stanley, has launched the Morgan Stanley Bitcoin Trust (MSBT), an exchange-traded fund (ETF) that tracks the performance of Bitcoin. BNY is serving as the administrator and transfer agent to the fund MSBT will track the performance of Bitcoin as measured by the performance of the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, which is a one-hour volume-weighted average price of Bitcoin against US dollar,