Morgan Stanley has submitted filings to the U.S. Securities and Exchange Commission for spot bitcoin and Solana exchange-traded funds. The move positions the Wall Street bank as the first major U.S. institution to launch its own bitcoin ETF. This step reflects growing institutional embrace of cryptocurrency amid expanding market adoption.
On January 6, 2026, Morgan Stanley announced its entry into the cryptocurrency investment space by filing with the SEC for two new exchange-traded funds: the Morgan Stanley Bitcoin Trust and the Morgan Stanley Solana Trust. These funds are designed to hold bitcoin and Solana directly as passive investments, without using derivatives or leverage, allowing investors straightforward exposure to the assets.
The filing marks a significant milestone, as Morgan Stanley becomes the first major U.S. bank to issue a spot bitcoin ETF. Previously, the firm has offered third-party cryptocurrency products to its wealth management clients. Access began for clients with at least $1.5 million in assets, but last October, it expanded availability to all clients across account types, including retirement plans. This in-house development allows Morgan Stanley to retain management fees rather than sharing them with external providers like Coinbase.
The broader cryptocurrency ETF market has seen rapid growth since the SEC approved the first such products two years ago. According to Bloomberg data, more than $150 billion is invested across approximately 130 U.S. funds, with much of the capital flowing into bitcoin-specific vehicles that launched in January 2024. BlackRock's spot bitcoin ETFs alone have attracted over $70 billion in allocations, becoming a key revenue driver.
Morgan Stanley's initiative aligns with actions by Wall Street peers, including Goldman Sachs, Citigroup, and JPMorgan Chase, which have launched various crypto-related projects. Todd Sohn, a senior ETF strategist at Strategas Securities, noted the trend's importance: “Crypto is becoming too big to miss for issuers, especially those who have in-house advisers. This is yet another milestone embracement similar to Vanguard allowing crypto ETF trading and BofA allowing for a small allocation. It’s rare a new asset class comes into the ETF space, hence the further embracement by large institutions.”
The inclusion of Solana highlights interest in alternative blockchains. Solana's network underwent upgrades last year, enhancing its speed to surpass bitcoin and operate 10-15 times faster than traditional payment rails like Visa and Mastercard, while maintaining low transaction costs. This has broadened its applications in financial services; for instance, PayPal shifted its stablecoin operations from Ethereum to Solana.
This development underscores cryptocurrency's shift toward mainstream finance, driven by regulatory clarity and institutional demand.
