Morgan Stanley Files 14bp Bitcoin ETF to Undercut BlackRock’s 25bp iShares Trust
JPMorgan and Pimco portfolio managers warn that oil topping $116 due to the Iran conflict could slow US growth and drive investors into fixed-income, potentially benefiting BlackRock’s bond funds. Morgan Stanley filed for a 0.14% fee spot Bitcoin ETF to undercut BlackRock’s 0.25% iShares Bitcoin Trust, leveraging 16,000 advisors to win assets.
1. Bond Managers Predict Growth Slowdown
Fixed-income strategists at JPMorgan Asset Management and Pimco highlight oil prices above $116 as a trigger for US economic weakness. They anticipate that a growth slowdown will drive a bond-market rebound and lower Treasury yields, which could increase demand for BlackRock’s bond funds and fixed-income offerings.
2. Morgan Stanley’s Bitcoin ETF Challenge
Morgan Stanley’s 16,000-strong advisor network will push its proposed Bitcoin Trust with a 0.14% annual fee, directly undercutting BlackRock’s 0.25% iShares Bitcoin Trust. By offering the lowest fee in the spot ETF market, Morgan Stanley aims to divert assets from higher-cost rivals and seize market share in institutional crypto investing.