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

According to Mars Finance, on March 20th, The Block reported that Morgan Stanley has submitted a second version of its S-1 amendment to its Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC). The ETF was first applied for in January of this year, and the latest amendment confirms that the fund, named "Morgan Stanley Bitcoin Trust," will be listed on the NYSE Arca under the ticker symbol MSBT. The document adds more specific product information: the basket size is 10,000 shares, with a planned initial seed basket of 50,000 shares, and an expected fundraising of approximately $1 million. Morgan Stanley also disclosed that it purchased 2 shares of the ETF on March 9th for auditing purposes. The first version of the amendment, submitted earlier this month, already specified that Bank of New York Mellon would act as the cash custodian, manager, and transfer agent, and Coinbase would act as the principal broker. This amendment marks an advancement in the application process, although final approval is not guaranteed. If approved, Morgan Stanley will become the first major U.S. bank to directly issue and sponsor its own spot Bitcoin ETF.