Morgan Stanley has moved a step closer to launching a Bitcoin ETF, updating its SEC filing to show the fund will list on NYSE Arca under the ticker MSBT — and adding Fidelity to the roster of custodians.
In an amendment to its S-1 filing Wednesday, the bank said the Morgan Stanley Bitcoin Trust will offer a promotional fee waiver on the first $5 billion invested for the initial six months after launch. The filing also names Fidelity alongside previously disclosed custodians The Bank of New York Mellon and Coinbase Custody Trust Company.
Morgan Stanley first registered the Bitcoin Trust alongside a Morgan Stanley Solana Trust in January. Based on the recent updates, the Bitcoin vehicle appears likely to hit the market before the Solana product; the Solana S-1 has not been updated since the initial filing. The earlier registrations described both trusts as passive vehicles intended to track their respective cryptocurrencies’ spot prices. As is typical with S-1s, custodians, counterparties and fee structures were left unspecified at first and are being filled in as the funds move toward listing.
The filing update comes amid broader crypto ambitions at the bank. In February, Amy Oldenburg — Morgan Stanley’s newly appointed head of digital assets strategy — told a Bitcoin conference that the firm plans to build proprietary Bitcoin custody and trading services internally, and is exploring yield and lending offerings. “We really need to build this out internally. We can't just primarily rent the technology to do this,” she said.
Morgan Stanley, which manages nearly $9 trillion in client assets, has already expanded crypto access across its platforms. Last September the bank confirmed it would enable trading in Bitcoin, Ethereum and Solana via its E*Trade app. In January the bank also filed for an Ethereum ETF — a filing that, like the Solana trust, has not been updated since its initial submission.
The MSBT filing marks a notable step in Morgan Stanley’s push into crypto products, signaling growing institutional commitment to spot crypto investment vehicles and custody capabilities. Investors and market watchers will be watching subsequent S-1 amendments and the NYSE Arca listing timeline for more concrete launch details.
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