Overview
- Morgan Stanley’s second amended S-1 names MSBT as the NYSE Arca ticker and seeds the trust with 50,000 shares targeting roughly $1 million in initial proceeds.
- Coinbase Custody will hold the bitcoin in cold storage, while BNY Mellon is appointed administrator, transfer agent, and cash custodian for the trust.
- The passive vehicle will price shares using the CoinDesk Bitcoin Benchmark at 4:00 p.m. New York time and will allow both cash and in-kind creations and redemptions.
- The registration is not yet effective and no management fee or expense ratio was provided, as the SEC continues to review a large queue of crypto ETF applications.
- Morgan Stanley is also pursuing Ethereum and Solana trusts that include staking features and is preparing retail trading of bitcoin, ether, and solana through E*Trade.