Morgan Stanley filed for Bitcoin and Solana exchange-traded funds Monday, marking the 1.6 trillion bank’s first cryptocurrency ETF applications amid growing institutional demand 1.
The move signals Wall Street’s largest investment banks are deepening their crypto exposure as digital assets gain mainstream acceptance among wealth management clients.
Key Takeaways
- Morgan Stanley filed S-1 forms for Bitcoin and Solana ETFs
- Trusts would hold cryptocurrencies directly if approved by regulators
- Move follows two years after spot Bitcoin ETF approvals
Market Context
Morgan Stanley’s entry comes two years after the Securities and Exchange Commission approved the first spot Bitcoin ETFs in January 2024 2. The bank joins competitors like BlackRock and Fidelity, which have launched successful Bitcoin ETF products.
The proposed Morgan Stanley Bitcoin Trust and Morgan Stanley Solana Trust would be passive investment vehicles seeking to track cryptocurrency prices 3. Both funds require SEC approval before launching on U.S. exchanges.
Strategic Positioning
The filings represent Morgan Stanley’s most aggressive move into crypto ETFs, building on its existing wealth management crypto offerings. The bank already allows its wealthiest clients to access Bitcoin ETFs through its over 15,000 wealth advisors 4.
Morgan Stanley’s crypto push aligns with growing institutional adoption of digital assets. The bank previously offered Bitcoin exposure through private funds and third-party products before filing for its own ETF products.
Regulatory Landscape
The SEC has shown increasing willingness to approve crypto ETF products following the successful launch of spot Bitcoin ETFs. However, Solana ETF applications face more regulatory uncertainty than Bitcoin products.
No Solana ETFs have received SEC approval to date, making Morgan Stanley’s application part of the first wave of altcoin ETF filings from major asset managers. The regulatory timeline for approval remains unclear.
Industry Impact
Morgan Stanley’s entry could accelerate mainstream crypto adoption among traditional investors. The bank’s reputation and distribution network provide significant advantages in reaching institutional and high-net-worth clients.
The move also highlights growing competition in the crypto ETF space, where early movers like BlackRock’s iShares Bitcoin Trust have attracted billions in assets since launch 5.
Investment Implications
If approved, the ETFs would offer investors direct cryptocurrency exposure through regulated investment vehicles. This approach eliminates the need for direct crypto custody while providing traditional brokerage account access.
The products would compete with existing Bitcoin ETFs on fees and performance, potentially driving down costs for retail investors as competition intensifies in the space.
Not investment advice. For informational purposes only.
References
1(2026, January 6). “Morgan Stanley files for bitcoin, solana ETFs in digital”. Reuters. Retrieved January 6, 2026.
2(2026, January 6). “Morgan Stanley files for bitcoin, solana ETFs in digital”. Yahoo Finance. Retrieved January 6, 2026.
3(2026, January 6). “Morgan Stanley Investment Management Files Initial Registration Statements for Two Cryptocurrency ETPs”. Business Wire. Retrieved January 6, 2026.
4(2026, January 6). “Morgan Stanley files S-1s for Bitcoin and Solana ETFs in latest crypto push”. TradingView. Retrieved January 6, 2026.
5(2026, January 6). “Crypto Latecomer Morgan Stanley Files for Bitcoin, Solana ETFs”. Bloomberg. Retrieved January 6, 2026.
6(2026, January 6). “Morgan Stanley Files S-1 for Spot Bitcoin ETF”. BitBo. Retrieved January 6, 2026.
7(2026, January 6). “Morgan Stanley has a new investment plan for traders in 2026”. TheStreet. Retrieved January 6, 2026.
8(2026, January 6). “Morgan Stanley Files Bitcoin and Solana ETF Applications”. TechRepublic. Retrieved January 6, 2026.
9(2026, January 6). “Morgan Stanley files for bitcoin, solana ETFs in digital assets push”. WTVB. Retrieved January 6, 2026.