Morgan Stanley named Coinbase Custody as a custodian for its proposed Bitcoin Trust ETF, according to an updated S-1 filing with the U.S. Securities and Exchange Commission.
The bank also appointed BNY Mellon to serve as a custodian, administrator, and transfer agent for the fund.
Coinbase will additionally act as the prime broker for the proposed ETF.
The arrangement requires the majority of the fund's Bitcoin to be held in offline cold storage to ensure security.
This move signals deepening integration between traditional financial institutions and digital asset infrastructure.