Morgan Stanley has resubmitted a revised Bitcoin spot ETF filing to the U.S. Securities and Exchange Commission, planning to list MSBT on NYSE Arca, while introducing BNY Mellon as custodian and Coinbase as primary broker. This entire configuration is actually already a standard combination of traditional finance + crypto-native.
If approved, this could be the first major U.S. bank to directly issue and sponsor a Bitcoin spot ETF. The significance lies not in the product itself, but in the role transformation—Wall Street is beginning to shift from selling products to making products.
In my view, this is not a short-term positive, but a long-term signal. Bitcoin is being treated as a standard asset, and the rules are gradually being reshaped by traditional finance.
Liquidity will improve, but at the same time, it will increasingly become an asset absorbed by the system, rather than the original thing that opposed the system.
Morgan Stanley has resubmitted a revised Bitcoin spot ETF filing to the U.S. Securities and Exchange Commission, planning to list MSBT on NYSE Arca, while introducing BNY Mellon as custodian and Coinbase as primary broker. This entire configuration is actually already a standard combination of traditional finance + crypto-native.
If approved, this could be the first major U.S. bank to directly issue and sponsor a Bitcoin spot ETF. The significance lies not in the product itself, but in the role transformation—Wall Street is beginning to shift from selling products to making products.
In my view, this is not a short-term positive, but a long-term signal. Bitcoin is being treated as a standard asset, and the rules are gradually being reshaped by traditional finance.
Liquidity will improve, but at the same time, it will increasingly become an asset absorbed by the system, rather than the original thing that opposed the system.
#比特币ETF # Morgan Stanley #Traditional Finance