Wu said he learned that Morgan Stanley submitted the second revised S-1 document for its Bitcoin ETF application to the U.S. Securities and Exchange Commission, confirming that Morgan Stanley Bitcoin Trust will be listed on NYSE Arca under the ticker "MSBT", and disclosed that each basket size is 10,000 shares with initial seed shares of 50,000 shares, with an estimated fundraising of approximately 1 million USD; it was previously disclosed that BNY Mellon and Coinbase will serve as Bitcoin custodian and related functions respectively; this revision indicates that the application has made progress but does not guarantee approval. If approved, Morgan Stanley could become the first major U.S. bank to directly issue a spot Bitcoin ETF.