BlackRock’s $55 billion IBIT fund faces its toughest rival yet in Morgan Stanley’s massive advisor network
BlackRock’s most successful exchange-traded fund (ETF) is facing its clearest challenge yet, as Morgan Stanley rolls out a cheaper rival with direct access to trillions in client capital. Morgan Stanley’s ETF, trading under MSBT and tracking the CoinDesk Bitcoin Benchmark 4 PM NY Settlement Rate, began trading Tuesday with a 0.14% expense ratio, below the…