Morgan Stanley has named The Bank of New York Mellon and Coinbase Custody Trust Company as custodians for its proposed spot Bitcoin ETF. This filing comes as the bank seeks regulatory approval for its Morgan Stanley Bitcoin Trust.
The approach mirrors that of other major Bitcoin ETFs, with Coinbase serving as a primary custodian. The Securities and Exchange Commission has yet to approve the ETF for trading.
According to Amy Oldenburg, head of digital assets strategy at Morgan Stanley, the bank intends to develop its own in-house capabilities for Bitcoin custody, trading, and lending services. Oldenburg emphasized the importance of building these internal systems to meet client expectations and maintain the bank's trusted brand.