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iShares Staked Ethereum Trust ETF (ETHB) vs Morgan Stanley Bitcoin Trust (MSBT)

How iShares Staked Ethereum Trust ETF (ETHB) vs Morgan Stanley Bitcoin Trust (MSBT) compare on our ratings, crypto etf specs, funding, pros and cons.

iShares Staked Ethereum Trust ETF (ETHB)4.4/5
VS
Morgan Stanley Bitcoin Trust (MSBT)4.0/5
Feature
iShares Staked Ethereum Trust ETF (ETHB)Visit
Morgan Stanley Bitcoin Trust (MSBT)Visit
Ratings
Our score4.4/54.0/5
User ratingNo reviews yetNo reviews yet
Fees4.55.0
Size & liquidity4.54.0
Issuer & custody5.05.0
Structure & tracking4.03.5
Extras (staking, options)4.02.0
Specs
TickerETHBMSBT
IssuerBlackRockMorgan Stanley Investment Management
HoldsEtherBitcoin
StructureSpot ETFETP / ETN
Expense ratio0.25%0.14%
Fee waiver0.12% for the first 12 months on the first $2.5B in assetsNot disclosed
Assets under management$1.18B$873M (October 2026)
Listed onNasdaqNYSE Arca
Launch date2026-02-182026-04-08
CustodianCoinbase PrimeCoinbase Custody Trust Company, The Bank of New York Mellon
Stakes its holdings Yes No
MarketUnited StatesUnited States
Company
Founded20262026
HeadquartersUnited StatesUnited States
InvestorsNot disclosedNot disclosed
Strengths and weaknesses
Pros
  • Sponsor fee waived to 0.12% on the first $2.5B in assets
  • Generates validator staking rewards without requiring manual validator hardware or pooling
  • Pays staking rewards through scheduled monthly cash distributions
  • Backed by institutional custody via Coinbase Prime
  • Competitive 0.14% annual sponsor fee
  • Dual custody provided by BNY Mellon and Coinbase Custody
  • Traded on NYSE Arca within standard brokerage accounts
  • Direct spot exposure to bitcoin without private key management
Cons
  • Shares cannot be redeemed for physical ether tokens
  • Subject to validator slashing penalties and Ethereum unstaking lockup periods
  • Sponsor fee rises to 0.25% once initial waiver conditions conclude
  • Concentrated counterparty custody risk with a single custodian
  • No option for investors to withdraw physical bitcoin
  • Not registered under the Investment Company Act of 1940
  • Shares can fluctuate at a premium or discount to NAV
  • Restricted to United States brokerage and institutional accounts
Best forRetirement account crypto exposure, Investors seeking ether staking yields, US brokerage account holdersUS brokerage account holders, Low-cost spot bitcoin allocators, Retirement and IRA crypto investors

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