According to The Block, Morgan Stanley submitted a second amendment to its application for a spot Bitcoin ETF with the U.S. SEC, confirming that its Morgan Stanley Bitcoin Trust will be listed on NYSE Arca under the ticker symbol MSBT. The amendment added fund details: a basket size of 10,000 shares, an initial seed basket of 50,000 shares, and an expected fundraising amount of approximately $1 million; BNY Mellon will serve as the cash custodian and transfer agent, while Coinbase will act as the prime broker. If approved, Morgan Stanley will become the first major U.S. bank to directly issue and sponsor a spot Bitcoin ETF.
Morgan Stanley Submits Revised Bitcoin ETF S-1 Filing to SEC
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Summary
Morgan Stanley has filed a revised application for its spot Bitcoin ETF with the U.S. SEC. The firm plans to list the Morgan Stanley Bitcoin Trust on NYSE Arca under the ticker MSBT. The filing specifies a basket size of 10,000 shares and a seed basket of 50,000 shares. BNY Mellon will serve as custodian, and Coinbase will act as the lead market maker. The firm is seeking approval for a Bitcoin ETF, which would make it the first major U.S. bank to launch a spot Bitcoin ETF.
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