Morgan Stanley Advances Spot Bitcoin ETF Plans with Amended Filing

Morgan Stanley has progressed its plans for a spot Bitcoin exchange-traded fund (ETF) by submitting an amended S-1 filing. According to NS3.AI, the proposed MSBT fund is set to be listed on NYSE Arca and will hold Bitcoin directly. Strategy President and CEO Phong Le highlighted that a 2% allocation across the bank's wealth platform could potentially generate $160 billion in Bitcoin demand. The U.S. Securities and Exchange Commission (SEC) has not yet provided a timeline for its decision on the application.