91-year-old Wall Street giant inches closer to first Bitcoin ETF

An ETF is an concern conveyance that pools superior from antithetic investors to way the show of an underlying asset, an index, oregon a handbasket of assets. It gets traded connected a accepted banal exchange.

A crypto ETF is simply a benignant of concern money that offers investors indirect vulnerability to cryptocurrency without straight buying oregon holding virtual assets.

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As reported earlier, the 91-year-old slope filed with the U.S. Securities and Exchange Commission (SEC) to motorboat its Bitcoin and Solana (SOL) ETFs connected Jan. 6.

The Wall Street giant's amendment to signifier S-1 filed with the SEC connected March 4 mentions Coinbase Custody (Nasdaq: COIN) and the Bank of New York Mellon (NYSE: BK) arsenic the Bitcoin custodians, which will safeguard the fund's holdings.

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As per the filing, the custodians volition hold Bitcoin in offline acold retention vaults, which means backstage keys to the vaults are offline and are disconnected from the net truthful that the funds bash not get stolen during imaginable cyber attacks.

The Bitcoin custodians are not Federal Deposit Insurance Corporation (FDIC)-insured but transportation security provided by backstage security carriers. Though custody security exists, it is shared crossed customers and volition not beryllium capable to screen each losses successful lawsuit of theft.

Morgan Stanley volition worth the Bitcoin ETF's shares based connected a pricing benchmark, an aggregated scale of executed trading enactment crossed large spot trading exchanges.

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This communicative was primitively published by TheStreet connected Mar 4, 2026, wherever it archetypal appeared successful the MARKETS section. Add TheStreet arsenic a Preferred Source by clicking here.