TechFlow News, March 4: According to CoinDesk, Morgan Stanley filed an S-1 form with the U.S. Securities and Exchange Commission (SEC), disclosing that its proposed Morgan Stanley Bitcoin Trust will use Coinbase Custody and Bank of New York Mellon (BNY Mellon) as bitcoin custodians.
Per the filing, the trust will primarily hold bitcoin in offline cold storage, with private keys disconnected from the internet to reduce hacking risks. BNY Mellon will also serve as investment manager, transfer agent, and cash custodian, handling accounting, shareholder recordkeeping, and cash flow related to ETF trading.
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