Morgan Stanley needs its deliberate spot bitcoin ETF to commerce below the ticker MSBT when it debuts.
The funding financial institution disclosed the ticker in its newest submitting with the U.S. Securities and Trade Fee (SEC), amending its January utility for the fund.
The submitting additionally revealed key fund particulars, which embrace a ten,000-share creation unit required to construct the ETF, and a deliberate $1 million seed funding, or the preliminary cash used to start out the fund. The funding financial institution purchased two shares early this month for audit functions, it added.
In accordance with an earlier submitting, BNY Mellon has been designated to deal with the fund’s money and administrative features, whereas Coinbase will function prime dealer and custodian of its Bitcoin holdings.
Morgan Stanley’s transfer underscores Wall Avenue’s rising push into crypto, as established banks and custodians work to make bitcoin extra accessible to mainstream buyers.
If permitted, the Morgan Stanley ETF would let buyers get publicity to bitcoin with out proudly owning it, becoming a member of 11 different spot ETFs, together with BlackRock’s IBIT, which have been energetic since January 2024. These funds have already attracted over $56 billion in investor inflows.
The funding financial institution additionally filed an utility for a Solana ETF alongside bitcoin earlier this yr, but it surely has but to submit any updates for that fund.