Morgan Stanley Bitcoin Trust is a Delaware statutory trust formed on December 16, 2025 pursuant to the DSTA. The investment objective of the trust is to seek to track the performance of Bitcoin. CSC Delaware Trust Company is a Delaware trust company and is the Delaware Trustee of the trust (the "DE Trustee "). The trust provides investors with indirect access to the Bitcoin market through traditional brokerage accounts without the risks involved in setting up potential barriers to entry or holding or transferring Bitcoin directly or acquiring Bitcoin from the Bitcoin spot market. 

MSBT

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