Morgan Stanley is advancing its push into digital assets with plans to launch a spot Bitcoin ETF under the ticker MSBT, backed by an initial $1 million seed investment.
In an updated filing with the U.S. Securities and Exchange Commission, the bank revised its earlier January proposal, formally confirming the ticker symbol and providing additional details about the fund’s structure.
According to the filing, the ETF will use a 10,000-share creation unit and begin with $1 million in seed capital to support its launch. The firm also disclosed that it acquired two shares earlier this month for audit purposes.
For operations, BNY Mellon has been appointed to oversee cash management and administrative duties, while Coinbase will serve as prime broker and custodian of the fund’s Bitcoin holdings.
The move reflects a broader trend of traditional financial institutions expanding into crypto, aiming to simplify Bitcoin access for institutional and retail investors alike. If approved, the ETF would provide exposure to Bitcoin without requiring direct ownership.
Morgan Stanley’s proposed product would enter a competitive market that already includes major offerings such as iShares Bitcoin Trust, with spot Bitcoin ETFs collectively attracting more than $56 billion in inflows since their debut in January 2024.
The bank has also previously filed for a Solana ETF, though it has yet to release any new updates regarding that application.
