- Issuer
- Morgan Stanley
- Inception Date
- Apr 7, 2026
- Category
- Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate
- Distribution Policy
- None
- Asset Class
- Cryptocurrency
- Assets Under Management
- $368M
Share Price Chart
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Performance
MSBT Performance Chart
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Returns By Period
Morgan Stanley Bitcoin Trust
- 1D
- 0.99%
- 1M
- 0.55%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.42%
- 1M
- 1.94%
- 6M
- 8.74%
- YTD
- 10.66%
- 1Y
- 21.02%
- 3Y*
- 19.50%
- 5Y*
- 11.63%
- 10Y*
- 13.41%
MSBT Monthly Returns History
Based on dividend-adjusted daily data since Apr 8, 2026, MSBT's average daily return is -0.17%, while the average monthly return is -2.47%.
Historically, 50% of months were positive and 50% were negative. The best month was Jul 2026 with a return of +8.7%, while the worst month was Jun 2026 at -20.0%. The longest winning streak lasted 1 consecutive months, and the longest losing streak was 2 months.
On a daily basis, MSBT closed higher 49% of trading days. The best single day was Apr 22, 2026 with a return of +5.1%, while the worst single day was Jun 2, 2026 at -6.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.34% | -3.88% | -19.99% | 8.66% | -11.97% |
Benchmark Metrics
Morgan Stanley Bitcoin Trust has an annualized alpha of -65.99%, beta of 1.22, and R2 of 0.20 versus S&P 500 Index. Calculated based on daily prices since April 08, 2026.
- R2 of 0.20 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -65.99%
- Beta
- 1.22
- R²
- 0.20
- Upside Capture
- 58.67%
Expense Ratio
MSBT has an expense ratio of 0.14%, which is considered low.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Morgan Stanley Bitcoin Trust (MSBT) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MSBT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.28 | — |
| Martin ratioReturn relative to average drawdown | — | 9.88 | — |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Morgan Stanley Bitcoin Trust. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Morgan Stanley Bitcoin Trust was 28.33%, occurring on Jun 30, 2026. The portfolio has not yet recovered.
The current Morgan Stanley Bitcoin Trust drawdown is 22.12%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -28.33%Jun 2026 | 1mo 19d | — | 2mo 2dMay 2026 - now |
2026 pullback2026 | -4.37%Apr 2026 | 6d | 5d | 11dApr 2026 - May 2026 |
2026 pullback2026 | -3.15%Apr 2026 | 1d | 1d | 2dApr 2026 - Apr 2026 |
2026 pullback2026 | -1.84%May 2026 | 1d | 4d | 5dMay 2026 - May 2026 |
2026 pullback2026 | -1.59%Apr 2026 | 0s | 2d | 2dApr 2026 - Apr 2026 |
Drawdown Indicators
| MSBT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.33% | -56.78% | +28.45% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -22.12% | -0.45% | -21.67% |
Average DrawdownAverage peak-to-trough decline | -11.57% | -10.71% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.09% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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