"Morgan Stanley's proposed spot bitcoin exchange-traded fund will trade under the ticker MSBT on NYSE Arca, designed to track the spot price of bitcoin through direct holdings."
"The ETF allows investors to gain exposure through brokerage accounts without owning the cryptocurrency directly, reflecting a significant step in modernizing financial infrastructure."
Morgan Stanley's Bitcoin Trust (MSBT) is progressing towards trading after receiving a listing notice from the New York Stock Exchange. If approved, it will be the first spot Bitcoin ETF from a major U.S. bank. The trust aims to provide exposure to Bitcoin through direct holdings, allowing investors to access it via brokerage accounts. Morgan Stanley's extensive network of financial advisors could enhance the ETF's distribution. The fee structure remains undisclosed, with existing ETFs charging between 0.20% and 0.30% annually.
Read at Bitcoin Magazine
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