Morgan Stanley filed Amendment No. 4 to its S‑1 for the Morgan Stanley Bitcoin Trust (proposed ticker MSBT) proposing a passive bitcoin ETF on NYSE Arca that would track bitcoin via the CoinDesk Bitcoin Benchmark. The amendment updates operational structure, custody and creation/redemption mechanics, names The Bank of New York Mellon and Coinbase Custody Trust Company as custodians, and discloses a 0.14% annual delegated sponsor fee. Analysts say the filing signals an imminent launch pending final SEC approval; noted risks include volatility, regulatory uncertainty, and potential pricing gaps.

Filing Amendment No. 4 proposes a NYSE Arca‑listed passive ETF (MSBT) tracking bitcoin via CoinDesk, names custodians (BNY Mellon and Coinbase Custody) and sets a 0.14% fee that undercuts BlackRock’s 0.25% IBIT; these concrete structural, custody and fee details support a bullish market read while SEC approval and listed risks (volatility, regulatory uncertainty, pricing gaps) keep the outlook cautious.