Global investment giant Morgan Stanley files to launch spot Bitcoin ETF

Global investment giant Morgan Stanley has filed with the US Securities and Exchange Commission (SEC) to create a spot Bitcoin exchange-traded fund (ETF) called the Morgan Stanley Bitcoin Trust.

The bank manages approximately $9 trillion in assets and plans to use custody services from Coinbase and Bank of New York Mellon to store the cryptocurrency.

The filing states that the fund’s price will be calculated based on the daily average Bitcoin rate from the CoinDesk Bitcoin Benchmark Index.

By Jeyhun Aghazada