Morgan Stanley has selected BNY Mellon and Coinbase as custodians ahead of the launch of a bitcoin ETF, Cointelegraph reported on March 4.
According to documents filed with the U.S. Securities and Exchange Commission, the two firms will store bitcoin for the Morgan Stanley Bitcoin Trust ETF in cold storage. Some of the holdings can be moved to internet-connected hot wallets for use in creations and redemptions.
Morgan Stanley is in the process of seeking SEC approval to launch bitcoin and solana ETFs.
The launch of Morgan Stanley’s ETF is seen as a strategic move to expand its foothold in the cryptocurrency market.
Jeff Park (제프 박), an adviser at Bitwise Asset Management, said Morgan Stanley is strengthening its competitiveness in crypto and tokenised assets. He said an ETF launch will provide a foundation for expanding new businesses, including securing talent in the cryptocurrency industry and trading tokenised real-world assets.
Chi-gyu Hwang (황치규)
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