Morgan Stanley Turns to Coinbase and BNY for Custody in the Proposed Bitcoin ETF

BNY will serve as the administrator, transfer agent, and cash custodian for Morgan Stanley’s proposed Bitcoin Trust.

What You Need to Know:

The Morgan Stanley Bitcoin Trust plans to store its bitcoins with Coinbase Custody and BNY, with BNY also acting as the administrator, transfer agent, and cash custodian. CoinDesk Price Reference: The ETF will track the price of bitcoin using the CoinDesk Bitcoin Reference Rate’s 4 p.m. New York Settlement Price, which incorporates trading activity on major spot exchanges to determine the fund’s daily valuation.