\nMorgan Stanley Investment Management (MSIM) today announced the launch of the Stablecoin Reserves Portfolio (MSNXX), part of the Morgan Stanley Institutional Liquidity Funds trust. The Stablecoin Reserves Portfolio is a new government money market fund designed to align with the stablecoin reserves investment requirements of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The Fund offers payment stablecoin issuers an eligible money market fund option where they can invest their required reserves that back their outstanding payment stablecoins.<\/p>\n
\n\u201cWe are pleased to deliver a new investment solution to the marketplace that seeks to address the needs of stablecoin issuers,\u201d said Fred McMullen Co-Head of Global Liquidity, Morgan Stanley Investment Management. \u201cThe significant increase in stablecoin issuers as well as the growing number of assets held in stablecoins represents an evolving portion of the marketplace that is ripe for future growth.\u201d<\/p>\n
\nThe Stablecoin Reserves Portfolio seeks preservation of capital, daily liquidity and maximum current income, consistent with seeking to maintain a stable $1.00 net asset value (NAV). The Fund invests only in cash, U.S. Treasury bills, notes and bonds with remaining maturities of 93 days or less, as well as certain overnight repurchase agreements collateralized by U.S. Treasury securities and\/or cash.<\/p>\n
\nAmy Oldenburg, head of Digital Asset Strategy for Morgan Stanley, stressed the firmwide focus on expanding access to digital investment solutions. \u201cDeveloping innovative ways to work with stablecoin issuers is another step towards modernizing the financial infrastructure and a key way to improve our institutional clients\u2019 experience,\u201d said Oldenburg. \u201cCreating opportunities for all client segments as markets evolve will make the next phase of finance possible and more broadly accessible.\u201d<\/p>\n
\nThe Stablecoin Reserves Portfolio builds on MSIM\u2019s commitment to expanding its digital assets offerings. In April, MSIM debuted its first cryptocurrency ETP, the Morgan Stanley Bitcoin Trust (MSBT), which seeks to track the performance of bitcoin. BNY (NYSE: BK), a global financial services company, provides digital asset custody services for MSBT as well as serving as the administrator and transfer agent, providing account, recordkeeping and cash management services.<\/p>\n
\nEarlier this year, MSIM introduced DAP Class shares of its Morgan Stanley Institutional Liquidity Funds Treasury Securities Portfolio. DAP Class shares are designed to participate in BNY\u2019s Money Market Funds (MMFs) mirrored record tokenization initiative. Currently, DAP Class shares are available via BNY\u2018s LiquidityDirectSM<\/sup> and Digital Asset platforms, the corresponding value of which will be represented through mirrored record tokenization on a blockchain, while BNY maintains the official books and records for the fund shares.<\/p>\n \n\u201cWe have actively engaged across the industry to develop the ability to offer digital asset related liquidity solutions,\u201d said McMullen. \u201cWhile still in the early stages, these recent product launches signify our commitment to develop relevant, timely solutions that may address evolving investor needs in an increasingly digital marketplace.\u201d<\/p>\n Morgan Stanley Bitcoin Trust (“MSBT” or the “Trust”), an exchange traded product, is not registered under the Investment Company Act of 1940, as amended (the 40 Act) and <\/i><\/b>therefore is not subject to the same regulations and protections as 1940 Act-registered ETFs and mutual funds. An investment in MSBT is subject to a high degree of risk and <\/i><\/b>heightened volatility. MSBT is not suitable for an investor that cannot afford the loss of the entire investment. An investment in the Trust is not a direct investment in bitcoin.<\/i><\/b><\/p>\n About Morgan Stanley Investment Management About Morgan Stanley Stablecoin Reserves Portfolio Disclosure<\/span><\/b><\/p>\n Shares of the Stablecoin Reserves Portfolio are primarily expected to be held by stablecoin issuers to help them meet stablecoin reserve asset requirements. Shares of the Stablecoin Reserves Portfolio may also be held by investors who are not stablecoin issuers.<\/b><\/p>\n STABLE NAV FUNDS Please consider the investment objectives, risks, charges and expenses of the Stablecoin Reserves Portfolio carefully before investing. The <\/b>prospectus<\/b><\/a> contains this and other information about the Stablecoin Reserves Portfolio. To obtain a prospectus, download one at the above link or by visiting the<\/b>Stablecoin Reserves Portfolio Fund page<\/b><\/a> or call 1.800.236.0992. Please read the prospectus carefully before investing.<\/b><\/p>\n Morgan Stanley Distribution, Inc. serves as the distributor for the Morgan Stanley Institutional Liquidity Funds, including Stablecoin Reserves Portfolio.<\/b><\/p>\n \nDAPclass shares provide a constant net asset value (NAV) instead of rising over time to reflect income earned. DAP class shares distribute income to investors regularly as dividends or distributions.<\/p>\n Morgan Stanley Bitcoin Trust Disclosure<\/span><\/b><\/p>\n Investing in digital assets involves risk, including possible loss of principal. An investment in Morgan Stanley Bitcoin Trust (\u201cMSBT\u201d) is subject to a high degree of risk and heightened volatility. MSBT is not suitable for any investor that cannot afford loss of the entire investment.<\/b><\/p>\n \nMorgan Stanley Investment Management Inc. is the delegated sponsor of MSBT. Foreside Fund Services, LLC is the Marketing Agent of MSBT.<\/p>\n This information must be preceded or accompanied by a prospectus, click <\/b>here<\/a>to view or download prospectus. We advise you to consider MSBT’s objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about MSBT. Please read the prospectus carefully before you invest.<\/b><\/p>\n Risk Considerations<\/b><\/p>\n \nDigital assets are highly volatile and unpredictable. Their value is influenced but not limited to, by supply and demand, investor confidence and their willingness to purchase it using traditional currencies, inflation, interest rates, currency exchange rates, changing regulations in the U.S. and abroad, and economic trends. Investors also face risks such as price swings, flash crashes, fraud, and cybersecurity threats. Digital assets may be more vulnerable to market manipulation than securities.<\/p>\n Blockchain<\/b> is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.<\/p>\n \nCryptocurrency (notably, bitcoin) operates as a decentralized, peer-to-peer financial exchange and value storage that is used like money. It is not backed by any government. Federal, state or foreign governments may restrict the use and exchange of cryptocurrency. Cryptocurrency may experience very high volatility.<\/p>\n NOT FDIC INSURED. OFFER NO BANK GUARANTEE. MAY LOSE VALUE. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT A DEPOSIT.<\/b><\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260423878842\/en\/<\/a><\/span><\/p>\n
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<\/b>Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,300 investment professionals around the world and $1.9 trillion in assets under management or supervision as of March 31, 2026. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com\/im<\/a>.<\/p>\n
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<\/b>Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com<\/a>.<\/p>\n
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<\/b>You could lose money by investing in the Stablecoin Reserves Portfolio. Although the Stablecoin Reserves Portfolio seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Stablecoin Reserves Portfolio is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Stablecoin Reserves Portfolio ‘s sponsor is not required to reimburse the Stablecoin Reserves Portfolio for losses, and you should not expect that the sponsor will provide financial support to the Stablecoin Reserves Portfolio at any time, including during periods of market stress.<\/b><\/p>\n<\/p>\n