Morgan Stanley establishes MSBT ticker and allocates $1 million in initial funding for bitcoin ETF.

Morgan Stanley has submitted an application to introduce a spot Bitcoin ETF under the ticker MSBT with an initial investment of $1 million.

Morgan Stanley designates MSBT as the ticker for its Bitcoin ETF.

What to know:

• Morgan Stanley’s Bitcoin ETF will trade under the ticker MSBT.
• The fund features a $1 million seed investment.

Morgan Stanley anticipates that its upcoming spot Bitcoin BTC$70,769.43 ETF will operate under the ticker MSBT upon its launch.

The investment bank revealed the ticker in its recent submission to the U.S. Securities and Exchange Commission (SEC), updating its January application for the fund.

The submission also disclosed important fund information, including a requirement of 10,000 shares in the creation unit to form the ETF and a planned $1 million seed investment, which serves as the initial capital to establish the fund. The investment bank noted that it purchased two shares earlier this month for auditing purposes.

As per a previous filing, BNY Mellon has been appointed to oversee the fund’s cash and administrative tasks, while Coinbase will act as the primary broker and custodian for its Bitcoin assets.

Morgan Stanley’s actions highlight Wall Street’s increasing interest in cryptocurrency, as established financial institutions strive to enhance Bitcoin’s accessibility for mainstream investors.

If approved, the Morgan Stanley ETF would provide investors with exposure to Bitcoin without direct ownership, joining 11 other spot ETFs, including BlackRock’s IBIT, that have been operational since January 2024. These funds have already garnered more than $56 billion in investor capital.

The investment bank has also submitted an application for a Solana ETF in conjunction with Bitcoin earlier this year, but no updates for that fund have been provided yet.