ChainCatcher report, according to CoinDesk, Morgan Stanley has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC), disclosing that its planned Morgan Stanley Bitcoin Trust will use Coinbase Custody and The Bank of New York Mellon (BNY Mellon) as bitcoin custodians. According to the filing, the trust will primarily store bitcoin using offline cold storage, with private keys disconnected from the internet to reduce the risk of hacking. BNY Mellon will also serve as the fund administrator, transfer agent, and cash custodian, responsible for accounting, shareholder records, and cash flow management related to ETF transactions.
Morgan Stanley Chooses Coinbase and BNY Mellon as Bitcoin ETF Custodians
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Summary
Bitcoin ETF news emerged as Morgan Stanley filed an S-1 with the SEC, revealing that Coinbase Custody and BNY Mellon will serve as custodians for its Bitcoin Trust. The trust will store Bitcoin in offline cold storage, with private keys kept offline to minimize hacking risks. BNY Mellon will also manage fund administration, shareholder records, and cash flow. This Bitcoin breakthrough underscores the firm’s institutional-grade approach to custody and operations.
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