Morgan Stanley amended an S-1 to propose a spot Bitcoin ETF (ticker MSBT) charging 14 basis points, below Grayscale’s 0.15% and BlackRock’s 25 bps products. If approved, it would be the first spot Bitcoin ETF issued directly by a major U.S. bank. The filing and NYSE listing notice could trigger fee competition and attract adviser-driven flows given Morgan Stanley’s wealth-management distribution.

Filing shows a proposed 14 bps fee (below Grayscale’s 0.15% and BlackRock’s 25 bps), the amended S-1 and NYSE listing notice indicate progress, and the product would be the first spot Bitcoin ETF from a major U.S. bank — facts that the summary says could prompt fee competition and adviser-driven flows.