Morgan Stanley files for Bitcoin, Solana ETFs
Synopsis
Morgan Stanley is entering the cryptocurrency fund market. The firm has filed for Bitcoin and Solana exchange-traded funds. This move marks a significant step for the financial giant into digital assets. Other major Wall Street firms are also increasing their crypto involvement. This expansion highlights growing institutional interest in cryptocurrencies.
Morgan Stanley filed for Bitcoin and Solana exchange-traded funds, marking its first foray into the popular corner of the funds world two years after the explosion of crypto-focused ETFs in the US brought them into the mainstream.
The firm on Tuesday submitted paperwork for a Bitcoin Trust and a Solana Trust, each of which would hold the individual cryptocurrencies. The Solana product would allocate a portion to be staked, the process in which rewards are earned for allowing the tokens owned to be used to support the blockchain network. The trusts would be sponsored by Morgan Stanley Investment Management, the filings say.
The filing comes as Wall Street’s traditional players deepen their digital-asset footprint. Firms including Goldman Sachs Group, JPMorgan Chase and Citigroup have stepped up institutional crypto efforts, rolling out trading operations and piloting custody, settlement and tokenisation initiatives. More than $150 billion is already parked across some 130 US funds, according to data compiled by .
Crypto TrackerTOP COINS (₹) Ethereum295,500 (2.19%)BNB82,504 (0.83%)Tether90 (-0.12%)Bitcoin8,405,009 (-0.44%)XRP208 (-1.59%)The filing comes as Wall Street’s traditional players deepen their digital-asset footprint. Firms including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup INc. have stepped up institutional crypto efforts, rolling out trading operations and piloting custody, settlement and tokenization initiatives. More than $150 billion is already parked across some 130 US funds, according to data compiled by . Much of that haul is in Bitcoin-specific products, many of which launched in January 2024 with great immediate success.
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View Details »“Crypto is becoming too big to miss for issuers, especially those who have in-house advisers,” said Todd Sohn, a senior ETF strategist at Strategas Securities. “This is yet another milestone embracement similar to Vanguard allowing crypto ETF trading and BofA allowing for a small allocation. It’s rare a new asset class comes into the ETF space, hence the further embracement by large institutions.”
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Already, more than 10 pure Bitcoin-focused funds trade in the US, as do various ones based on Solana, the sixth-largest digital currency by market value. Though Bitcoin funds, such as BlackRock Inc.’s IBIT, have attracted billions of dollars, many of the more niche products based on lesser-known tokens have struggled to take in meaningful amounts of cash.
Morgan Stanley currently doesn’t crack the top-10 list of ETF issuers, according to data compiled by Intelligence, and commands fewer assets in the space than newcomers such as Neos Investments, which got its start in 2022. Morgan Stanley’s existing funds largely focus on fixed income and equities.
Still, the bank has shown greater interest in the crypto sector of late. News reported in September that Morgan Stanley partnered with a cryptocurrency infrastructure provider to let its E*Trade clients trade popular tokens beginning in 2026 and that it had plans to launch an asset-allocation strategy around crypto. It was also evaluating broader uses for tokenization.
