Morgan Stanley has filed registration statements with the U.S. Securities and Exchange Commission to launch exchange-traded funds tracking Bitcoin and Solana, marking another major step by a traditional finance heavyweight into the growing crypto ETF market.
The Wall Street firm, which oversees approximately $6.4 trillion in assets under management, submitted separate S-1 filings for a Morgan Stanley Bitcoin Trust and a Morgan Stanley Solana Trust, according to disclosures published on Tuesday by the SEC. Morgan Stanley’s Solana Trust also includes a staking feature.
If approved, today’s filings would place Morgan Stanley alongside major crypto ETF issuers such as BlackRock and Fidelity, underscoring increasing appetite for digital assets within mainstream investment products following the approval of U.S. spot Bitcoin ETFs in January 2024.
Morgan Stanley’s S-1 paperwork also arrives amid the accelerating adoption of crypto ETFs by institutional and retail investors alike.
Cumulative trading volume across U.S. spot crypto ETFs has now exceeded $2 trillion, according to The Block’s data. The market took more than a year to cross the first $1 trillion threshold, then just about eight months to add the next trillion, highlighting a sharp increase in activity and liquidity. Assets held in spot Bitcoin ETFs alone have also climbed above $123.5 billion, representing an estimated 6.6% of bitcoin’s total market capitalization, even as bitcoin prices have remained below the $100,000 level in recent sessions.
A more crypto-friendly regulatory environment at the SEC following President Donald Trump’s return to office has coincided with broader participation from legacy firms.
In September 2025, the SEC approved new generic listing standards for cryptocurrency exchange-traded products on an accelerated basis, allowing eligible funds to launch without the lengthy individual 19b-4 rule-change filings that previously delayed approvals for up to 240 days.
The ETF push also builds on Morgan Stanley’s broader expansion into crypto investing.
Last year, the firm set a 4% allocation cap for what it described as “opportunistic” portfolios holding digital assets, aligning its internal guidance with peers such as BlackRock and Grayscale. Additionally, the wealth manager has moved to open crypto access across all client accounts, including retirement plans.
Taken together, the Bitcoin and Solana ETF filings suggest Morgan Stanley is positioning itself to meet growing client demand for regulated, exchange-traded exposure to digital assets as crypto markets mature and institutional participation continues to expand.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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