Morgan Stanley (NYSE:MS) is expanding its crypto footprint, filing an S-1 with the U.S. Securities and Exchange Commission to launch the Morgan Stanley Bitcoin Trust, a spot ETF that would directly hold Bitcoin (CRYPTO: BTC).
The proposed fund plans to use Coinbase and Bank of New York Mellon (BNY) as Bitcoin custodians, with most assets stored in offline cold storage.
Some BTC may temporarily move into trading wallets during share creations and redemptions.
Custody insurance will be shared …