The post Morgan Stanley Files Bitcoin and Solana ETF Applications With SEC appeared first on Coinpedia Fintech News
Morgan Stanley has filed an S-1 registration with the U.S. Securities and Exchange Commission to launch a spot Bitcoin ETF. The filing, submitted on January 6, puts the $1.6 trillion wealth management giant in direct competition with BlackRock and Fidelity.
The product, called the Morgan Stanley Bitcoin Trust, will track the price of Bitcoin net of fees and expenses. The bank also filed for a Solana ETF on the same day.
How the Morgan Stanley Bitcoin Trust Works
The trust will hold Bitcoin directly rather than using derivatives or leverage. Its net asset value will be calculated daily using a pricing benchmark from major spot exchanges.
The fund is passive. It will not trade Bitcoin based on market conditions.
Shares will be created and redeemed in large blocks by authorized participants, either in cash or in kind. Retail investors can buy and sell shares on
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