Morgan Stanley Has Filed a Revised S-1 Form with the SEC for a BTC-ETF Under Ticker MSBT

Before listing on the NYSE, the investment bank will raise $1 million through the sale of 50,000 shares to the sponsor. The funds will then be used to purchase BTC. Jane Street, Virtu Americas, and Macquarie Capital will be able to create and redeem large blocks of MSBT shares. They will profit from arbitrage between the price of BTC and MSBT shares, which will help maintain the ETF's price close to the value of BTC. However, the fund still needs to receive SEC approval to commence operations.

In October 2025, Morgan Stanley recommended allocating 2–4% of portfolios to cryptocurrency. The investment bank also allowed its 15,000 advisors to promote BlackRock's BTC-ETF—IBIT. However, they will now be offering their own BTC-ETF.