Morgan Stanley Bets Big on Bitcoin with $1 Million Seed and a New Ticker

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Markets

What to know:

  • Mr. Morgan Stanley’s contemplated bitcoin ETF is to bear the market designation MSBT.
  • The fund is provisioned with a seed of one million dollars.

Mr. Morgan Stanley desires that its intended spot bitcoin ETF may, should the Fates allow, trade under the sobriquet MSBT upon its debut.

In its most recent memorandum to the Securities and Exchange Commission, the venerable house disclosed the chosen ticker, thereby amending its January petition for the fund.

The document also furnished particulars, including a creation unit of 10,000 shares indispensable to conjure the ETF, and the intended seed capital of $1,000,000-the money by which the venture is to take its first proper steps. It is added that two shares were purchased earlier this month for purposes of audit, a curiosity indeed.

According to a prior filing, BNY Mellon has been appointed to manage the fund’s cash and administrative affairs, while Coinbase shall serve as prime broker and custodian of its Bitcoin holdings.

Mr. Morgan Stanley’s movement serves as a witty illustration of Wall Street’s growing dalliance with cryptocurrency, as venerable banks and custodians strive to render bitcoin more accessible to the respectable investor.

Should the matter receive sanction, the ETF would grant exposure to bitcoin without the necessity of possession, joining eleven other spot ETFs, including BlackRock’s IBIT, which have been in operation since January 2024. These funds have drawn in excess of $56 billion in investor inflows thus far.

Moreover, an application for a Solana ETF accompanied the bitcoin filing earlier in the year, though there have been no further comments regarding that fund.

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2026-03-20 08:03