Bitcoin news: Morgan Stanley sets MSBT ticker and $1 million seed capital for BTC ETF

Morgan Stanley has filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot Bitcoin ETF, designated with the ticker MSBT. The initial seed capital for the fund is planned at $1 million, and the creation unit will be 10,000 shares. BNY Mellon will handle cash and administrative functions, while Coinbase will act as the prime broker and custodian for the Bitcoin holdings. This move reflects increasing interest from Wall Street in cryptocurrency, aiming to provide mainstream investors with exposure to Bitcoin without direct ownership, similar to the 11 other spot ETFs already trading, including BlackRock's IBIT, which have collectively attracted over $56 billion in inflows. Morgan Stanley also filed for a Solana ETF, but has not yet provided updates on that application.

(Source：CoinDesk)