Morgan Stanley Bitcoin Trust to Trade as MSBT on NYSE Arca

Morgan Stanley has confirmed its spot bitcoin exchange-traded fund will trade as MSBT on NYSE Arca, following an updated filing with the U.S. Securities and Exchange Commission. The Morgan Stanley Bitcoin Trust is designed as a passive investment vehicle tracking the spot price of bitcoin through direct holdings, allowing investors exposure without directly owning the asset. The initial offering will involve 50,000 shares, aiming to raise $1 million. Coinbase Custody Trust Company will serve as the primary bitcoin custodian, with BNY Mellon handling administration, transfer agency, and cash custody. This move signifies a broader push by Morgan Stanley into digital assets, including plans to integrate crypto trading into its E*Trade platform and develop a fully integrated custody and exchange platform to meet client demand.

(Source：Bitcoin Magazine)