Morgan Stanley launches Bitcoin ETF under MSBT ticker, backing it with $1M seed capital

Morgan Stanley is moving forward with its proposed spot Bitcoin ETF, planning to list the product under the ticker MSBT with an initial $1 million seed investment.

The bank disclosed the ticker in an amended filing with the U.S. Securities and Exchange Commission, updating its original January submission and outlining additional details about the fund’s structure.

As detailed in the filing, the ETF will feature a 10,000-share creation unit and launch with $1 million in seed capital. Morgan Stanley also confirmed it purchased two shares earlier this month for audit-related purposes.

The fund’s operational framework includes BNY Mellon handling cash management and administrative responsibilities, while Coinbase will act as prime broker and custodian for its Bitcoin holdings.

The initiative reflects growing momentum among traditional financial institutions entering the crypto space, aiming to broaden access to Bitcoin for a wider investor base. Pending approval, the ETF would allow investors to gain exposure without directly holding the asset.

If launched, Morgan Stanley’s fund would join a crowded field of spot Bitcoin ETFs, including iShares Bitcoin Trust, which together have attracted more than $56 billion in inflows since January 2024.

Separately, the bank has also submitted a proposal for a Solana ETF earlier this year, though no further updates have been provided on that filing.