Morgan Stanley submits Bitcoin ETF amendment: supports physical purchases and redemptions, has raised $1 million in seed funding.

Techub News reports that Morgan Stanley has submitted an S-1/A amendment for its spot Bitcoin ETF, the "Morgan Stanley Bitcoin Trust" (MSBT). The filing discloses that the trust has raised $1 million in seed capital through the sale of 50,000 Seed Shares, priced at $20 per share.

Furthermore, the ETF explicitly states it will support both cash and in-kind creation and redemption models. The disclosed authorized participants, in addition to the regular Virtu Americas and Jane Street, include Macquarie Capital. Additionally, Coinbase Custody and The Bank of New York Mellon (BNY) jointly serve as the Bitcoin custodians, with BNY also acting as the administrator, cash custodian, and transfer agent. The trust is required to pay a fixed trustee fee of $20,000 annually and will not participate in any Bitcoin forks or airdrops.