Morgan Stanley has moved closer to launching its spot Bitcoin ETF by filing a key update with the SEC. The proposed NYSE Arca Bitcoin Trust, ticker MSBT, would charge a 0.14% annual sponsor fee, undercutting major competitors. Custody for the fund’s Bitcoin assets would be managed by BNY Mellon and Coinbase Custody.
Morgan Stanley has filed Amendment No. 4 to its Form S-1 registration statement for a spot Bitcoin ETF. The filing brings the NYSE Arca Bitcoin Trust, proposed under the ticker MSBT, nearer to its potential launch.
The ETF is designed as a passive product tracking Bitcoin’s market performance without leverage. It would be listed on the NYSE Arca Exchange for regulated investor access.
Analyst James Seyffart stated this filing is likely the last amendment before launch. “Seyffart pointed out in his post that this might be the last amendment prior to the ETF launch, which might happen as early as next week.”
The filing sets an annualized delegated sponsor fee of 0.14%. This fee is notably lower than the 0.25% charged by BlackRock‘s iShares Bitcoin Trust (IBIT).
Morgan Stanley Investment Management will act as the delegated sponsor for the fund. The Bank of New York Mellon and Coinbase Custody Trust Company are named as the custody providers, utilizing cold storage.
The disclosed risks for the fund include Bitcoin’s price volatility and potential regulatory changes. The filing represents a significant step in the ongoing institutional adoption of cryptocurrency investment products.
