Morgan Stanley Launches Bitcoin Trust with Coinbase and BNY Mellon

News Flash 2026-03-06 02:46

Morgan Stanley has announced the launch of its first Bitcoin Trust, partnering with Coinbase Custody and BNY Mellon. The Wall Street giant will store the fund's Bitcoin primarily in offline "cold storage" to mitigate hacking risks. This move marks a significant step in integrating traditional banking with blockchain technology, following Morgan Stanley's filing for a Bitcoin Trust on January 6, 2026. Coinbase Custody Trust Company will safeguard the Bitcoin, while BNY Mellon will manage the fund's accounting and shareholder services. The Bitcoin Trust will be a passive fund, directly holding Bitcoin and tracking its price without derivatives or leverage. This development has contributed to an 8% surge in Bitcoin's price, now trading at $72,128, as the market responds positively to Morgan Stanley's crypto initiatives.

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