The Wall Street giant, Morgan Stanley, filed paperwork with the SEC this week to launch two new exchange-traded funds – one tracking Bitcoin and another tracking Solana. We’re talking about a firm that manages $6.4 trillion in assets. When players this size move into crypto, the entire market pays attention.
The S-1 registration statements landed on the SEC’s desk on Tuesday. Morgan Stanley wants to launch a Bitcoin Trust and a Solana Trust. Here’s the kicker – the Solana product comes with a staking feature, which means it can generate yield while holding the token. That’s not something you see in every crypto ETF.
Just days after these initial filings, Morgan Stanley expanded its crypto ambitions even further. The firm filed a registration statement for an Ethereum Trust on Jan 6, signaling its intent to cover the three largest cryptocurrencies by market cap. The rapid succession of filings – Bitcoin and Solana followed immediately by Ethereum – demonstrates how aggressively the Wall Street giant is moving to establish dominance in the crypto ETF space.
This move puts Morgan Stanley right next to BlackRock and Fidelity in the race for crypto ETF dominance. After the SEC approved spot Bitcoin ETFs back in January 2024, the floodgates opened. Now we’re seeing just how fast institutional money can flow into digital assets when there’s a regulated path forward.
Also Read: JPMorgan Dives into Public Blockchain with Tokenized Treasury Transaction via Ondo Finance
Why Morgan Stanley’s Move Matters
Trading volume across all U.S. spot crypto ETFs recently crossed $2 trillion. Think about that timeline for a second. It took more than a year to hit the first trillion dollars. Then just eight months later, boom – another trillion. The acceleration is wild.
Spot Bitcoin ETFs alone are now holding over $123.5 billion in assets. That represents about 6.6% of Bitcoin’s entire market cap. And this is happening while Bitcoin prices sit below $100,000. Imagine what these numbers look like when Bitcoin breaks through that psychological barrier.
Morgan Stanley isn’t coming into this blind. The firm already lets its financial advisors sell spot Bitcoin ETFs to qualified clients. But there’s a difference between distributing someone else’s product and building your own. Creating proprietary funds means Morgan Stanley wants full control over the investment strategy and fee structure.
Why Solana Matters Here
Bitcoin ETFs make sense. Everyone gets that. But Morgan Stanley filing for a Solana ETF says something about where they think the market is headed. Solana isn’t just another altcoin anymore. It’s processing real transactions, hosting actual applications, and maintaining one of the most active developer communities in crypto.
Several other firms have Solana ETF applications pending with the SEC. VanEck, 21Shares, Canary Capital, and Bitwise all want a piece of this action. Morgan Stanley joining that list validates the entire category. When a $6.4 trillion wealth manager says Solana deserves an ETF, people listen.
The staking component makes the Solana Trust particularly interesting. Bitcoin just sits there. Solana can be staked to earn additional tokens. For investors used to bonds and dividend stocks, that yield potential makes a lot more sense than just hoping for price appreciation.
Also Read: Spot Bitcoin ETFs Bleed $195M. Are Institutions Exiting BTC?
The Regulatory Shift That Made This Possible
Something shifted at the SEC after President Trump took office. In September 2025, regulators approved new generic listing standards for crypto ETFs. The old process required individual 19b-4 rule-change filings that could drag on for 240 days. Now, eligible funds can launch much faster.
That regulatory streamlining opened the door for firms like Morgan Stanley to move quickly. They’re not pioneering new regulatory territory. BlackRock and Fidelity already blazed that trail with Bitcoin ETFs. But expanding into Solana shows how much the regulatory environment has relaxed.
The SEC still needs to approve these specific applications. Nothing is guaranteed. But the odds look better than they would have looked two years ago. The political winds changed, and crypto is catching a tailwind.
Morgan Stanley’s Broader Crypto Strategy
These ETF filings fit into a larger strategy at Morgan Stanley. Last year, the firm set a 4% cap on crypto allocations for what they call “opportunistic” portfolios. That matches similar guidelines from BlackRock and Grayscale. Wall Street is moving in coordination here.
More significantly, Morgan Stanley opened crypto access across all client accounts. That includes retirement plans. Think about the capital sitting in 401(k)s and IRAs across America. Most of that money had zero crypto exposure until recently. Now it can flow into regulated products like these proposed ETFs.
The firm isn’t just chasing trends either. Morgan Stanley has been methodically building its crypto infrastructure for over a year. First, they let advisors offer third-party Bitcoin ETFs. Then they expanded client eligibility. Now they’re launching their own products. That’s a calculated rollout, not a panic reaction to FOMO.
That methodical approach continues with the Ethereum Trust filing that followed within days of the Bitcoin and Solana applications, rounding out coverage of the top three cryptocurrencies and giving advisors a complete suite of crypto ETF options.
Also Read: Spot Vs Leveraged Bitcoin ETFs: Which One Should You Bet On?
What Now?
If the SEC approves these filings, Morgan Stanley will compete directly with the biggest names in crypto ETFs. BlackRock’s iShares Bitcoin Trust pulled in billions within weeks of launching. Fidelity’s offering did similar numbers. Morgan Stanley has the distribution network to match those flows.
Retail investors get easier access through regular brokerage accounts. Financial advisors get new tools for portfolio construction. And crypto gets another stamp of legitimacy from traditional finance. Everyone wins if this goes through.
The approval timeline remains unclear. The SEC doesn’t rush these decisions, even with streamlined rules. But Morgan Stanley filing now suggests they expect approval within a reasonable timeframe. Otherwise, why bother with the paperwork?
The Institutional Shift is Real
Goldman Sachs offers crypto services. JPMorgan built a blockchain platform. Now Morgan Stanley wants its own crypto ETFs. The pattern is obvious. Every major Wall Street firm is building crypto capabilities because its clients are demanding it.
This isn’t 2017, when Bitcoin hit $20,000, and everyone called it a bubble. Institutional adoption looks completely different this time around. We’re seeing measured, regulated products from firms that manage trillions in assets. That’s not speculation – that’s infrastructure being built.
The crypto market is maturing whether purists like it or not. Morgan Stanley filing for Bitcoin and Solana ETFs represents another milestone in that evolution. Traditional finance and crypto are merging, and the pace is accelerating.
When exactly did Morgan Stanley submit these ETF applications?
The SEC published the S-1 registration statements on Tuesday. Morgan Stanley filed for both a Bitcoin Trust and a Solana Trust.
What’s special about the Solana ETF having staking?
Staking lets the fund earn additional Solana tokens as rewards, creating a yield component on top of any price appreciation. Most crypto ETFs just hold the asset without generating income.
How much money does Morgan Stanley actually manage?
Around $6.4 trillion in total assets under management, making it one of the largest wealth managers globally.
Why did crypto ETF approvals suddenly get easier?
The SEC approved new generic listing standards in September 2025, cutting out the lengthy 19b-4 process that used to delay approvals for up to 240 days. The regulatory environment also became friendlier under the Trump administration.
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