Morgan Stanley Submits Revised Bitcoin ETF Application, Stock to List on NYSE Arca

This Tuesday, Morgan Stanley submitted a second revised S-1 registration statement to the SEC for its Bitcoin spot ETF application, confirming listing on NYSE Arca under the ticker symbol MSBT.

The filing shows that the creation and redemption unit for this offering is 10,000 shares, with an initial seed capital purchase unit of 50,000 shares, with expected fundraising of approximately $1 million. Morgan Stanley purchased two ETF shares on March 9 for audit purposes.

Regarding custodial arrangements, the fund will be co-custodized by Coinbase Custody and Bank of New York Mellon, with BNY Mellon serving as cash custodian, administrator, and transfer agent, while Coinbase will serve as the primary broker-dealer.

Once the application is approved, Morgan Stanley will also become the first major U.S. bank to directly issue and sponsor a Bitcoin spot ETF. In fact, Morgan Stanley has been actively making moves since early this year;

The bank first submitted applications for Ethereum and Solana ETFs respectively, and subsequently planned to provide cryptocurrency trading services to retail customers through its E*Trade division, demonstrating Morgan Stanley's ambitious aspirations and active strategy in the cryptocurrency sector.

In summary, if Morgan Stanley's MSBT Bitcoin ETF application is approved, it will not only open new opportunities for the bank's business expansion, but may also inject new vitality into the development of the U.S. cryptocurrency market, promoting further standardization and scale of the industry.

#摩根士丹利 # Bitcoin ETF