ChainCatcher report, according to The Block, Morgan Stanley has filed its second amended S-1 registration statement for its spot Bitcoin ETF with the SEC. The filing confirms that the Morgan Stanley Bitcoin Trust will be listed on NYSE Arca under the ticker symbol MSBT, with a basket size of 10,000 shares, an initial seed basket of 50,000 shares, and an expected fundraising amount of approximately $1 million. Morgan Stanley also disclosed that it purchased two shares of the ETF on March 9 for audit purposes. Previous amendments had specified that BNY Mellon will serve as the cash custodian, administrator, and transfer agent, while Coinbase will act as the primary broker-dealer. Upon approval, Morgan Stanley will become the first major U.S. bank to directly issue and sponsor a spot Bitcoin ETF.
Morgan Stanley Submits Revised S-1 Filing for Spot Bitcoin ETF
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Summary
Morgan Stanley submitted a revised S-1 filing for its spot Bitcoin ETF to the SEC. The spot Bitcoin ETF, named Morgan Stanley Bitcoin Trust, will trade on NYSE Arca under the ticker MSBT. The fund plans a basket size of 10,000 shares and an initial offering of 50,000 shares to raise approximately $1 million. The firm also disclosed that it purchased two ETF shares on March 9 for audit purposes. JPMorgan Chase and Coinbase will serve as the custodian and broker for the fund, respectively. Approval of a Bitcoin ETF could make Morgan Stanley the first major U.S. bank to launch such a product.
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