Morgan Stanley has updated its S-1 filing with the SEC, naming Coinbase Custody and Bank of New York Mellon as custodians of its Bitcoin ETF.
Morgan Stanley filed an amendment to its S-1 form with the Securities and Exchange Commission on March 4, for its proposed Bitcoin exchange-traded product (Morgan Stanley Bitcoin Trust), naming Coinbase Custody and Bank of New York Mellon (BNY) as custodians of the fund.
According to the updated filing, BNY will also serve as the fund’s administrator, transfer agent, and cash custodian, while Coinbase will act as prime broker.
The filing comes as the bank continues to expand its strategy in the digital asset sector across its wealth management and brokerage platforms. Morgan Stanley executives said the goal is to allow clients on the E-Trade platform to buy and sell spot digital assets through an initial partnership, before later introducing a more integrated solution that would include custody and exchange services.
The bank, the sixth largest in the United States by total assets, has also previously filed to list the Morgan Stanley Solana Trust.
Coinbase is already the primary custodian for the majority of spot Bitcoin ETFs available in the United States, with Fidelity being the only notable exception. These funds have recorded some of the fastest growth in the history of financial products: BlackRock’s IBIT Bitcoin trust reached several assets under management milestones since its listing in January 2024.
