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NYDIG's filing notably reveals that Morgan Stanley will serve as the proposed ETF's authorized participant. If approved, NYDIG's bitcoin ETF will trade on the NYSE Arca exchange. NYDIG subsidiaries NYDIG Asset Management LLC and NYDIG Trust Company LLC would serve as sponsor and bitcoin custodian, respectively.
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"The Trust’s investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust’s operations. The Trust will not seek to reflect the performance of any benchmark or index," the filing states.
https://www.theblockcrypto.com/linked/95021/nydig-bitcoin-etf-sec-filing
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