Morgan Stanley has submitted an updated filing for its proposed spot Bitcoin exchange-traded fund (ETF), identifying Coinbase and BNY (Bank of New York Mellon) as key service providers. According to the document, Coinbase will serve as the digital asset custodian, responsible for the secure storage of the fund’s Bitcoin holdings. Meanwhile, BNY has been appointed as the cash custodian and administrator, managing the fund’s fiat currency and accounting requirements. This strategic selection highlights a growing trend among Wall Street giants to leverage established crypto-native firms alongside traditional banking powerhouses to facilitate institutional-grade investment products. The update follows similar moves by other asset managers as they navigate the regulatory landscape and prepare for potential approval from the U.S. Securities and Exchange Commission (SEC).
Source: Morgan Stanley names Coinbase and BNY as custodians in proposed bitcoin ETF filing update
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