Morgan Stanley submits revised S-1 filing to advance its Bitcoin ETF application.

PANews reported on March 20th that, according to The Block, Morgan Stanley has filed a second revised S-1 registration statement with the SEC for its application to issue a spot Bitcoin ETF. The document confirms that the Morgan Stanley Bitcoin Trust will be listed on the NYSE Arca under the ticker symbol MSBT, with a basket size of 10,000 shares and an initial seed basket of 50,000 shares, expected to raise approximately $1 million. Morgan Stanley also disclosed that it purchased two ETF shares on March 9th for audit purposes. The previous revision specified that Bank of New York Mellon would act as the cash custodian, manager, and transfer agent, with Coinbase serving as the principal broker. If approved, Morgan Stanley will become the first major U.S. bank to directly issue and sponsor a spot Bitcoin ETF.