Morgan Stanley Appoints Coinbase and Bank of New York Mellon as Custodians for Its Bitcoin ETF

Odaily News Morgan Stanley has appointed Coinbase and Bank of New York Mellon to provide custody services for its proposed Bitcoin ETF. Bank of New York Mellon will also serve as the administrator, transfer agent, and cash custodian, responsible for handling accounting, shareholder record-keeping, and cash flows related to ETF transactions. According to the S-1 form filed by Morgan Stanley, the firm's Bitcoin will primarily be stored in offline cold wallets, with private keys disconnected from the internet to mitigate the risk of hacking attacks. (CoinDesk)