"Morgan Stanley has confirmed that its proposed spot bitcoin exchange-traded fund will trade under the ticker MSBT on NYSE Arca, according to an updated filing with the U.S. Securities and Exchange Commission. The filing outlines the structure of the Morgan Stanley Bitcoin Trust, a passive investment vehicle designed to track the spot price of bitcoin through direct holdings."
"Morgan Stanley has also appointed Coinbase Custody Trust Company as the primary bitcoin custodian. The firm will safeguard the digital assets and facilitate transfers tied to share creation and redemption. Most of the bitcoin will be held in cold storage, where private keys remain offline."
"BNY Mellon will serve multiple roles, including administrator, transfer agent, and cash custodian. The bank will handle accounting, shareholder records, and cash management for the trust. The structure follows a model used across the spot bitcoin ETF market."
Morgan Stanley has filed for a spot bitcoin exchange-traded fund called the Morgan Stanley Bitcoin Trust, trading under ticker MSBT on NYSE Arca. The passive investment vehicle tracks bitcoin's spot price through direct holdings, allowing investors exposure without owning bitcoin directly. The trust will seed with 50,000 shares, raising approximately $1 million initially. Coinbase Custody Trust Company serves as the primary custodian, holding most bitcoin in cold storage with offline private keys. BNY Mellon handles administrative functions including accounting, shareholder records, and cash management. The structure follows standard spot bitcoin ETF models, with portions of holdings potentially moving to trading wallets during share creation and redemption periods. Custody insurance covers the holdings but is shared across multiple clients with potential coverage limitations.
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