Wu Shuo has learned that Morgan Stanley submitted a second revised S-1 filing to the U.S. Securities and Exchange Commission for a Bitcoin ETF application, confirming that Morgan Stanley Bitcoin Trust will be listed on NYSE Arca under the ticker "MSBT," with each basket size of 10,000 shares and initial seed shares of 50,000 shares, with expected fundraising of approximately $1 million. BNY Mellon and Coinbase were previously disclosed to serve as Bitcoin custodian and related functions, respectively. The revision indicates progress in the application but does not guarantee approval. If approved, Morgan Stanley could become the first major U.S. bank to directly issue a spot Bitcoin ETF.

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