Inside Morgan Stanley’s Crypto ETF Structure

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The filings show that Morgan Stanley Investment Management will sponsor both trusts, with CSC Delaware Trust Company acting as trustee. While some service providers were not yet finalized, Morgan Stanley disclosed plans to store most private keys in cold storage, with a smaller portion held in hot wallets.

The funds are designed strictly to track spot prices and will not engage in speculative trading or attempt to outperform the underlying assets. Exchange listings are expected to be disclosed later via separate 19b-4 filings.

The timing aligns with renewed demand for crypto exposure. Spot Bitcoin ETFs alone attracted $1.1 billion in inflows during the first two trading days of 2026, reflecting what analysts describe as a “clean-slate” effect at the start of the year.

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cold storage + no active trading is exactly what boomers want, boring but effective