Morgan Stanley Debuts Bitcoin ETF as Price Slump Rattles Holders

Morgan Stanley is set to become the first Wall Street bank to launch its own Bitcoin-tracking exchange-traded fund, a milestone for the digital-asset ecosystem that underscores how deeply the original cryptocurrency has embedded itself in the financial mainstream — even as the market around it has cooled.

The New York–based firm plans to debut the Morgan Stanley Bitcoin Trust on NYSE Arca under the ticker MSBT Wednesday. It will join more than 10 spot-Bitcoin ETFs that launched over the past two years and collectively command over $85 billion in assets.

Despite being a late entrant to an increasingly crowded ...