Morgan Stanley taps Coinbase and BNY Mellon for custody in proposed Bitcoin ETF

BNY Mellon to act as administrator, transfer agent and cash custodian for Morgan Stanley’s proposed Bitcoin Trust What to know : The Morgan Stanley Bitcoin Trust plans to store its bitcoin with Coinbase Custody and Bank of New York Mellon, with BNY also serving as administrator, transfer agent and cash custodian. CoinDesk benchmark for pricing: The ETF will track bitcoin using the CoinDesk Bitcoin Benchmark 4PM New York Settlement Rate, which aggregates trading activity across major spot exchanges to determine the fund’s daily valuation.