Morgan Stanley files for Bitcoin ETF
Morgan Stanley amended SEC filings to lock in ticker 'MSBT' for a spot Bitcoin ETF and says crypto adoption is a long‑term journey focused on advisor education and digital‑asset integration. The filing signals more institutional infrastructure and demand that could pressure trading platforms to support high‑throughput crypto rails. ( )
Amended S-1 specifies a creation-basket of 10,000 shares and an initial seed basket of 50,000 shares expected to raise roughly $1 million at launch. (theblock.co) The filing assigns BNY Mellon as cash custodian, administrator and transfer agent, and identifies Coinbase (Coinbase Custody/prime broker and Coinbase Credit as lender) for Bitcoin custody and execution roles. (coin360.com) Net asset value calculations will reference the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate as the pricing benchmark for NAV determinations. (coin360.com) Creation and redemption mechanics allow authorized participants to transact using either cash or in‑kind bitcoin, with delegated sponsors able to instruct bitcoin counterparties to acquire assets when cash is used. (coin360.com) The S‑1 lists authorized participants and liquidity providers that include Virtu Americas LLC, Jane Street Capital LLC and Macquarie Capital (USA) Inc.; both Virtu and Jane Street publicly document use of co‑location and performance engineering to support low‑latency market‑making. (coin360.com) Morgan Stanley disclosed it purchased two shares of the trust on March 9, 2026 for auditing purposes as part of pre‑launch controls. (theblock.co) The second amendment to Form S‑1 was filed with the SEC on March 17, 2026, advancing the registration while retaining the prospectus structure and service‑provider allocations described above. (sec.gov)
