Morgan Stanley Advances Bitcoin ETF Filing with SEC
- Morgan Stanley submitted a second S-1 amendment for its Bitcoin ETF on March 18, aiming to launch under the ticker MSBT on NYSE Arca.
- The ETF is designed to track the price of BTC, providing investors direct exposure to the leading cryptocurrency.
- Custodians selected include Coinbase Custody and BNY Mellon, which will also serve as cash custodian for the trust.
- An initial seed creation basket of 50,000 shares is expected to generate around $1 million to acquire actual Bitcoin before trading begins.
- Bitcoin’s price fell by approximately 5% in the last day, currently trading at $70,166 with a low of $69,510 and high of $74,279.
The amendment brings Morgan Stanley closer to launching the first Bitcoin ETF by a major U.S. bank while awaiting SEC approval under generic listing standards. The filing comes amid increased trading volume in Bitcoin, which rose by over one-third in the past day.
With plans for an initial basket generating around $1 million in proceeds, Morgan Stanley’s move could significantly impact investor access to Bitcoin through traditional finance channels.(Source)
