On January 6, 2026, U.S. investment bank Morgan Stanley submitted registration statements with the U.S. Securities and Exchange Commission (SEC) to launch two new exchange-traded funds (ETFs) tied directly to Bitcoin (BTC) and Solana (SOL). If approved, these would be among the first crypto ETFs sponsored by a major Wall Street bank, not just an asset manager or niche firm. �
The proposed products — the Morgan Stanley Bitcoin Trust and the Morgan Stanley Solana Trust — are designed to hold the actual digital assets and track their spot market prices, rather than using derivatives or futures. That makes them spot ETFs, a structure that has become the industry standard for regulated crypto exposure. �
This is a big deal because major banks historically kept crypto at arm’s length due to regulatory uncertainty and reputational risk. Morgan Stanley’s filings show that barrier is eroding as traditional finance pushes deeper into digital assets. �
Why This Matters
1. Direct Market Exposure Through a Regulated Vehicle
These ETFs aim to give investors exposure to Bitcoin and Solana without owning the crypto directly. That appeals to institutions and individual investors who want regulated, familiar investment structures rather than managing wallets and private keys. �
2. Solana ETF with Staking Potential
The Solana ETF isn’t a vanilla price tracker — the filings suggest it could incorporate staking rewards into the fund’s net asset value. That’s more advanced than a basic ETF and reflects evolving institutional interest in yield-bearing crypto products. �
3. Institutional Adoption Isn’t a Theory — It’s Happening
Crypto spot ETFs in the U.S. have already seen significant trading volume and capital inflows. Morgan Stanley’s move signals that banks see this not as a niche market but as a viable product line. �
4. Strategic Shift from Custody to Product Sponsorship
Instead of just offering custody or third-party ETF access, Morgan Stanley is trying to manufacture its own products, capturing fee revenue and integrating crypto into its broader wealth-management ecosystem.
What Comes Next
SEC review and approval: Filing is just the first step. The SEC will assess the structure, compliance, and investor protections before greenlighting these ETFs.
Market impact: If approved, Morgan Stanley could steer fresh assets into BTC and SOL, especially from clients who previously hesitated because of direct crypto custody concerns.
Broader bank competition: Other big financial institutions are watching closely — some have already expanded their crypto product offerings and may follow suit. �
Bottom Line
This isn’t hype. A major bank entering the crypto ETF space changes the game — not because it guarantees price pumps, but because it reflects a deeper legitimacy shift in how mainstream finance treats digital assets. If you’re still treating crypto as fringe, you’re late to reality: the financial infrastructure is being built around it, not beside it.
