Morgan Stanley Chooses Coinbase And BNY Mellon For Its Bitcoin ETF
Synopsis
According to the S1 filing, Coinbase Custody Trust Company will serve as the Bitcoin custodian to safeguard Morgan Stanley’s digital assets.
Morgan Stanley filed an amended registration statement with the US Securities and Exchange Commission on Wednesday for its Bitcoin Trust.
According to the S1 filing, Coinbase Custody Trust Company will serve as the Bitcoin custodian to safeguard Morgan Stanley’s digital assets. The filing also states that BNY Mellon will be the administrator and transfer agent, handling the fund's accounting and shareholder services.
On January 6, Morgan Stanley filed for the Morgan Stanley Bitcoin Trust, making it the first US bank to do so. The bank also filed for a Solana ETF at the same time. The SEC filing shows that the ETF's goal is to give investors access to Bitcoin through regular brokerage accounts without requiring them to own the cryptocurrency directly.
The trust would own Bitcoin and issue shares whose value changes with Bitcoin's price. This would let both institutional and retail investors buy Bitcoin through the regulated ETF framework.
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