Overview
- Morgan Stanley’s amended SEC prospectus identifies Coinbase Custody and BNY Mellon as the trust’s bitcoin custodians.
- BNY Mellon is also designated as fund administrator, transfer agent, and cash custodian for the proposed vehicle.
- The filing outlines offline cold storage for most holdings with temporary use of trading wallets during creations and redemptions.
- Custody insurance is disclosed as shared across clients with limits that may not cover all potential losses.
- Net asset value would use the CoinDesk Bitcoin Benchmark at 4 p.m. New York, and the product remains proposed and subject to SEC review as part of Morgan Stanley’s wider crypto strategy.