> At a Glance
> – Morgan Stanley has filed with the SEC to launch spot ETFs for Bitcoin and Solana
> – The move comes nearly two years after the first U.S. Bitcoin ETF debuted
> – Solana ETFs have pulled in $800 million since mid-2025; Bitcoin ETFs hold a commanding $58 billion
> – Why it matters: A major U.S. bank entering the crypto-ETF race signals widening mainstream acceptance and could intensify fee competition for investors
Morgan Stanley is stepping deeper into crypto markets, asking regulators to green-light exchange-traded funds that directly hold Bitcoin and Solana. The filing arrives as spot crypto ETFs rack up billions in inflows and the post-election regulatory tone warms toward digital assets.
Wall Street’s Crypto Pivot
The bank’s proposal follows a broader industry rethink after President Trump’s pro-crypto rhetoric reset the U.S. policy landscape. Most large banks that once shunned crypto are now exploring products that give clients exposure without the custody headaches.
Morgan Stanley already holds a long, mostly positive history with digital assets:
- Bought into Grayscale’s GBTC trust well before today’s ETF era
- Senior execs have publicly speculated Bitcoin could evolve into a global reserve currency
- Alongside BNY Mellon, it ranks among the few U.S. banks that have openly embraced Bitcoin and select altcoins for years
By the Numbers
SoSoValue data show investor appetite for crypto ETFs remains robust:
| Asset | ETF Launch | Net Inflows |
|---|---|---|
| Bitcoin | Jan 2024 | $58 billion |
| Solana | Mid-2025 | $0.8 billion |
The figures capture total flows since each product suite debuted, underscoring Bitcoin’s first-mover advantage while highlighting Solana’s rapid traction.
Key Takeaways
- Morgan Stanley’s filing adds a blue-chip name to the crowded crypto-ETF race
- Spot ETFs have become the preferred on-ramp for institutions seeking regulated crypto exposure
- Approval would let the bank compete directly with issuers already gathering billions in management fees
If the SEC signs off, the bank’s advisory clients-and the broader market-could soon access top cryptocurrencies through one of Wall Street’s most recognizable brands.
