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 a basket size of 10,000 shares, initial seed shares of 50,000 shares, and an estimated fundraising of approximately $1 million. Previously disclosed are BNY Mellon and Coinbase serving 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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