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Morgan Stanley designates Coinbase and BNY Mellon as custodians for its Bitcoin ETF
Odaily Planet Daily reports that Morgan Stanley has designated Coinbase and Bank of New York Mellon as custodians for its proposed Bitcoin ETF. Bank of New York Mellon will also serve as the administrator, transfer agent, and cash custodian, responsible for accounting, shareholder records, and cash flows related to the ETF transactions. Additionally, according to Morgan Stanley’s S-1 filing, Morgan Stanley’s Bitcoin will mainly be stored in offline cold wallets with private keys disconnected from the internet to reduce hacking risks. (CoinDesk)