Morgan Stanley advances bitcoin ETF application with amended S-1 filing
Morgan Stanley filed an amended S-1 for its Bitcoin ETF, detailing listing information and confirming custodians.Summary
Investment banking giant Morgan Stanley has filed a second amended S-1 registration statement with the SEC for its proposed Bitcoin ETF, the Morgan Stanley Bitcoin Trust, which will list on the NYSE Arca under the ticker MSBT. The filing provided specifics, including a basket size of 10,000 shares and an initial seed basket of 50,000 shares expected to raise $1 million. Previous amendments confirmed that BNY Mellon will serve as the cash custodian and Coinbase as the prime broker. While this filing shows progress, it does not guarantee approval, and Morgan Stanley's related spot Solana ETF application appears to be advancing slower. Separately, a Morgan Stanley executive noted that crypto ETF adoption is still in its early stages, with most current demand coming from self-directed investors rather than advisor-managed accounts.
(Source：The Block)