#MarketRebound $BTC
Morgan Stanley announced the appointment of both Bank of New York Mellon and Coinbase as custodians for its Bitcoin exchange-traded fund (Morgan Stanley Bitcoin Trust ETF), according to a disclosure submitted to the U.S. Securities and Exchange Commission.
According to the document, the custodians will store the fund’s entire Bitcoin holdings in cold wallets that are offline, while keeping a limited portion in hot wallets to meet the creation and redemption of fund units. The disclosure clarified that BNY Mellon operates as a licensed bank in New York, while Coinbase Custody conducts its activities as a licensed limited liability trust company in the same state, and both provide digital asset custody services and execute trading orders.
Morgan Stanley had applied in January to launch spot ETFs for Bitcoin, Solana, and Ethereum, in a move that strengthens its regulated expansion within the digital asset market.
This comes at a time when flows into Bitcoin spot funds in the United States have turned positive, with the Bitcoin fund managed by BlackRock recording inflows of $322 million during Tuesday's session, helping to offset outflows from competing funds such as Fidelity Investments and Grayscale Investments.
Total inflows this week rose to $683.3 million,