Morgan Stanley has filed registration documents with the U.S. Securities and Exchange Commission (SEC) to launch two Bitcoin and Solana spot exchange-traded funds (ETFs), the Morgan Stanley Bitcoin Trust and the Morgan Stanley Solana Trust. This marks a rare instance of the bank applying for a cryptocurrency ETF under its own brand, and is seen as a sign of increasing institutional investor access to the cryptocurrency market.
Bloomberg Intelligence analyst James Seifert analyzed the filing, saying, "This filing is unexpected and reflects a shift in attitudes toward crypto assets among major financial institutions." Morgan Stanley currently manages around 20 ETFs, but most of them are centered around externally issued brands.
Matt Haugen, Chief Investment Officer (CIO) at Bitwise, also stated, "Institutions are increasingly viewing cryptocurrency as a core business area, and there's a growing movement toward directly handling related products." Morgan Stanley previously allowed its financial advisors to recommend cryptocurrency-related ETFs to clients, up to a certain percentage.
Bloomberg ETF analyst Eric Balchunas said the move could lead to a strengthening of Morgan Stanley's ETF distribution strategy in the future and could suggest similar models for other large asset managers.
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