Morgan Stanley wants to launch its own Bitcoin ETF (MSBT)

Morgan Stanley updated its Bitcoin ETF filing again.

Some basics:

• ticker would be MSBT
• NYSE Arca listing
• about $1M seed
• pretty standard spot ETF setup

Nothing crazy new — looks like the same structure as the other ETFs.

The only difference is it’s a big bank doing it themselves.

Feels like we’re past “ETFs are coming” and now it’s just:
more players
more competition
same product

Full breakdown if anyone wants to dig in:
https://btcusa.com/morgan-stanley-advances-spot-bitcoin-etf-bid-with-msbt-ticker-and-1-million-seed-plan/

What do you think — does another ETF even matter at this point?