Morgan Stanley (NYSE:MS) filed a second amended S-1 for its spot Bitcoin (CRYPTO: BTC) ETF, setting the ticker MSBT for the Morgan Stanley Bitcoin Trust on NYSE Arca with a $1 million seed investment.

The MSBT Filing Details

The filing discloses a basket size of 10,000 shares and an initial seed of 50,000 shares expected to raise about $1 million. 

Morgan Stanley bought two shares early this month for audit purposes.

BNY Mellon will handle the fund’s cash and administrative functions, while Coinbase (NASDAQ:COIN) will serve as prime broker and custodian of its Bitcoin holdings.

The amendment signals progress but does not guarantee approval. If approved, the Morgan Stanley ETF would let investors get exposure to Bitcoin without owning it, joining 11 other spot ETFs including BlackRock’s IBIT that have been active since January 2024.

The Wall Street Push Into Crypto

Morgan Stanley’s move underscores Wall Street’s growing push into crypto as established banks and custodians work to make Bitcoin more accessible to mainstream investors. 

The 11 existing spot Bitcoin ETFs have already attracted over $56 billion in investor inflows since launching in January 2024.

Morgan Stanley also filed an application for a Solana (CRYPTO: SOL) ETF alongside Bitcoin earlier this year but has yet to submit any updates for that fund.

Bitcoin Tests Critical Support

Bitcoin is trading flat, hugging the Bollinger Band midline at $70,099. 

The Bollinger Bands are tightening around a rising channel structure with the upper band at $74,816 and lower at $65,381.

The rising channel off the $60,000 bottom remains intact, but today’s candle is the critical test. 

Price tagged the upper channel boundary near $75,000 last week and has pulled back to the midline—exactly where bulls need to defend.

A daily close below $70,099 flips short-term momentum bearish and opens a channel lower-boundary test at $65,381-$67,216. 

The Parabolic SAR at $67,216 currently sits bullish below price, marking the longest bullish streak since the November rally.

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