Overview
- Morgan Stanley’s proposed Morgan Stanley Bitcoin Trust, which received an NYSE Arca listing notice Wednesday, moved a step closer to trading even as SEC approval is still required.
- Filings describe a passive, physically backed trust that will trade under ticker MSBT and launch with a seed of roughly $1 million.
- The fund is designed to hold bitcoin directly to track the cash market price, avoiding leverage or derivatives so investors can buy shares through a standard brokerage account.
- Reports differ on who will hold the bitcoin in custody, with Bitcoin Magazine pointing to Coinbase while Crypto Briefing cites Fidelity, and BNY Mellon is listed for administration and cash custody.
- Fees have not been disclosed, and Bloomberg’s Eric Balchunas expects pricing near 0.24%, while approval would mark the first U.S. spot bitcoin ETF issued directly by a major bank, opening a broad distribution path through Morgan Stanley’s advisor network.