Banking giant Morgan Stanley has submitted an amended Bitcoin ETF filing with the U.S. Securities and Exchange Commission.

According to the updated S-1 filing on Wednesday, the firm has confirmed the ticker MSBT on NYSE Arca. Further, the filing notes that the trust will acquire initial Bitcoin by issuing 50,000 shares, expected to generate around $1 million in proceeds.

Other than that, the filing did not disclose key information about the management fee or expense ratio.

Morgan Stanley has finalized Coinbase Custody and BNY Mellon as it moves forward with custody arrangements, while BNY Mellon will also serve as the cash custodian for the trust.

The trust will operate as a passive investment vehicle and does not provide direct exposure to Bitcoin ownership.

With the preliminary regulatory hurdles done, the product is expected to go live once the registration statement becomes effective and final SEC approval is granted.

Is Morgan Stanley going all in on crypto?

Morgan Stanley filed for its spot Bitcoin ETF earlier this year alongside separate filings for other crypto assets, namely Ethereum and Solana.

The decision to launch this product and step into the spot crypto market comes as spot Bitcoin ETFs in the U.S. have witnessed record-breaking institutional inflows and have even surpassed the growth trajectory of Gold ETFs during their initial launch period.

Besides offering ETF products, the bank is also eyeing other Bitcoin-related product offerings, such as yield and lending services.

During a recent appearance at the Bitcoin for Corporations conference, digital assets strategy head Amy Oldenburg said it was a “natural part of the roadmap to continue to explore.”

The bank has also confirmed plans to offer retail trading for Bitcoin, Ethereum, and Solana through its E*Trade app.