Morgan Stanley has filed for Bitcoin and Solana exchange-traded funds, marking its first move into the fast-growing segment of crypto-focused investment products, two years after a wave of digital-asset ETFs in the United States helped push the sector into the mainstream.
The firm on Tuesday submitted paperwork for a Bitcoin Trust and a Solana Trust, each designed to hold the underlying cryptocurrencies. The Solana product would allocate a portion of its holdings to staking — a process in which investors earn rewards by allowing their tokens to be used to help validate transactions on the blockchain. Both trusts would be sponsored by Morgan Stanley Investment Management Inc., according to the filings.
The move comes as Wall Street’s traditional heavyweights deepen their push into digital assets. Firms including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. have expanded institutional crypto efforts, rolling out trading operations and piloting services such as custody, settlement and tokenization.
More than$150 billion is now invested across about130 US crypto-related funds, data compiled by Bloomberg show. Much of that total sits in Bitcoin-focused products, many of which debuted in January2024 and drew strong inflows almost immediately.
Explore more exclusive insights at nextfin.ai.
