Morgan Stanley Doubles Down: Files For Bitcoin AND Solana ETFs In Bold Crypto Bet

Wall Street's slow dance with crypto just turned into a sprint. Morgan Stanley—the same institution that once treated digital assets like a contagious disease—just filed paperwork for not one, but two spot cryptocurrency ETFs. The targets? Bitcoin, the undisputed king, and Solana, the high-speed challenger. This isn't a toe-dip; it's a cannonball.

The Institutional Floodgates Swing Open

Forget the cautious wealth management platforms and limited Bitcoin fund offerings of yesteryear. This filing signals a fundamental shift in strategy. By pursuing a Solana ETF alongside Bitcoin, Morgan Stanley is betting on the broader blockchain ecosystem's utility—and its potential to generate fees that make traditional finance products look quaint. It's a move that bypasses years of skeptical rhetoric and heads straight for the revenue.

Solana's Moment in the Spotlight

Including Solana is the real story here. While Bitcoin ETFs are now almost conventional, a spot Solana product from a tier-1 bank is a massive endorsement. It validates the "Ethereum killer" narrative for institutional paperwork, betting that developers and transaction speed matter as much as digital gold. Regulators will scrutinize it harder, but the message is clear: diversification is in.

A New Phase of Legitimacy—And Competition

This filing pressures every major wealth manager playing catch-up. The race is no longer about who accepts crypto, but who offers the most direct, liquid, and diversified exposure. Clients will soon demand it, forcing a scramble that would make a high-frequency trading desk blush. The old guard is finally building the very products they once warned against—a classic Wall Street pivot, just with blockchain timestamps.

The bottom line? When a giant like Morgan Stanley files for a Solana ETF, it's not just following trends—it's trying to own them. The cynical take? They've finally found a new, complex asset to bundle, slice, and fee to death. Welcome to the future of finance, built on a blockchain they once called a fad.

Morgan Stanley’s Latest Filings

In the submitted filing, Morgan Stanley outlined its plans for a bitcoin Trust and a Solana Trust, each designed to hold the respective cryptocurrencies. 

Notably, the solana product will include an allocation for staking, a process that enables holders to earn rewards by allowing their tokens to be used to support the blockchain network. These trusts will be sponsored by Morgan Stanley Investment Management Inc., according to the filings.

This latest move by Morgan Stanley follows its decision in October 2025 to empower its financial advisers to offer crypto investments to clients across various account types. 

In a paper published by the bank’s Global Investment Committee, a recommendation emerged suggesting that clients consider a maximum crypto allocation of 4%. 

The committee characterized cryptocurrencies, particularly Bitcoin, as a speculative yet increasingly popular asset class, likening Bitcoin to a scarce resource akin to “digital gold.”

Growing Institutional Interest

The launch of the Bitcoin and Solana exchange-traded funds is a significant move toward expanding Morgan Stanley’s presence in the cryptocurrency industry, which is widely regarded by traditional financial institutions as a financial sector with tremendous growth potential. 

This development comes two years after the Securities and Exchange Commission approval of the first US-listed spot bitcoin exchange traded fund, propelling institutional interest in digital assets.

The backdrop of growing regulatory clarity under US President Donald Trump has further encouraged traditional finance companies to diversify into digital assets, which were previously viewed primarily as speculative investments. 

The recent appointment of Paul Atkins, a pro-crypto advocate, as head of the SEC, alongside the agency’s recent regulatory moves towards digital assets, suggests that the approval process for these new crypto ETFs could be favourable and timely.

Additionally, in December, the Office of the Comptroller of the Currency (OCC) granted banks the ability to act as intermediaries for cryptocurrency transactions. This regulatory shift suggests a narrowing divide between the conventional financial sector and the burgeoning world of digital assets.

At the time of writing, Bitcoin has managed to hold onto the gains seen on Monday, when it briefly surged towards a two-month high of $94,800. Currently, the market’s leading cryptocurrency is attempting to consolidate at $93,920. 

Similarly, Solana has climbed back above $142, marking a significant 14% increase over the past seven days. However, this still leaves the altcoin 51% below its all-time high of $293 reached last year. 

Featured image from Reuters, chart from TradingView.com