In a notable development in the crypto market, financial journalist Michelle Macori commented on Morgan Stanley, one of the largest US investment banks, filing for its own spot Bitcoin ETF product.
Makori said the product, which will be codenamed MSBT, marks a major shift in the company’s crypto investment product strategy.
Morgan Stanley has previously offered customers access through spot Bitcoin ETFs from other issuers such as BlackRock, but is now reportedly considering launching its own product. The move appears to be an attempt to not only offer investment products but also directly control customer flow and fee income.
Makori said the ETF will be listed on the NYSE Arca, with major companies such as Jane Street and Virtu Financial expected to play a market-making role.
If the application is approved, Morgan Stanley could become the first major U.S. bank to issue a spot Bitcoin ETF under its own brand.
*This is not investment advice.
