Morgan Stanley has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its upcoming Bitcoin Trust, designating Coinbase Custody and BNY Mellon as custodians. The trust will primarily utilize offline cold storage for bitcoin, ensuring private keys remain disconnected from the internet to mitigate hacking risks. BNY Mellon will also handle fund administration, transfer agency, and cash custody, managing accounting, shareholder records, and cash flow for ETF transactions.