Morgan Stanley accelerates its push into the world of crypto ETFs. The American bank has filed for S-1 documents with the SEC to launch two spot ETFs backed by Bitcoin and Solana, confirming the growing appetite of major Wall Street players for regulated crypto products.
Morgan Stanley: A New Heavyweight in the Crypto ETF Race
The filings involve a Morgan Stanley Bitcoin Trust and a Morgan Stanley Solana Trust. The Solana product also includes a staking component, increasingly sought after by investors looking to capture yield in addition to price exposure, particularly on ETH and SOL. Surprisingly, Morgan Stanley opted for Solana over Ethereum, the second-largest crypto market cap.
With nearly $6.4 trillion in assets under management, Morgan Stanley would thus join the ranks of major issuers already positioned in the crypto ETF space, alongside BlackRock and Fidelity. This move follows the approval of spot Bitcoin ETFs in early 2024, which significantly transformed institutional access to digital assets.
Now an Institutional-Scale Market
The timing is significant. The cumulative volume of transactions on American spot crypto ETFs has surpassed $2 trillion. It took over a year to reach the first billion, then only a few months to double that figure, a clear sign of acceleration in adoption.
Bitcoin ETFs alone account for more than $123 billion in assets, representing about 6.6% of Bitcoin’s total market cap. This is while BTC remains below $100,000, highlighting the structural demand strength.
A More Favorable Regulatory Framework
This initiative comes in a significantly more flexible regulatory context. Since Donald Trump’s return to the White House, the SEC has adopted a more pragmatic approach. In September 2025, the regulator approved new generic standards for crypto ETFs, allowing some products to launch without the long individual procedures that previously hindered filings for months.
This change has paved the way for an accelerated wave of filings, with Morgan Stanley now in on the action.
An Already Well-Established Crypto Strategy
These filings are not a one-off move. Morgan Stanley has gradually expanded access to cryptocurrencies for its clients, including in some retirement accounts, and set a 4% allocation cap for opportunistic portfolios. An approach aligned with other asset management giants.
By filing for spot ETFs on Bitcoin and Solana, the bank sends a clear message: crypto is no longer a fringe product but a sustainable building block of traditional investment offerings. If the ETFs are approved, Morgan Stanley will be in an ideal position to capture a new wave of institutional demand in 2026.
