Morgan Stanley submits applications for bitcoin and solana exchange-traded funds, intensifying its efforts in the cryptocurrency sector.

Wall Street titan submits application for bitcoin trust in response to increasing institutional interest.

Morgan Stanley Headquarters At 1585 Broadway In New York

Key points:

• Morgan Stanley submitted a Form S-1 on January 6, 2026, aiming to obtain approval for a spot bitcoin exchange-traded fund that would directly hold bitcoin and trade on a U.S. exchange.
• This initiative underscores the increasing institutional confidence in regulated bitcoin offerings.

Morgan Stanley has made a filing with the Securities and Exchange Commission (SEC) to initiate a spot bitcoin BTC$93,026.70 exchange-traded fund (ETF) and solana trust, advancing its digital asset goals.

The bitcoin product, referred to as the Morgan Stanley Bitcoin Trust, is structured as an exchange-traded fund intended to mirror the price of bitcoin, minus fees and expenses, as outlined in the Form S-1 filed on January 6. If authorized, the shares are anticipated to be listed on a national securities exchange under a ticker symbol yet to be revealed.

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The bitcoin trust is backed by Morgan Stanley Investment Management and will directly own bitcoin instead of utilizing derivatives or leverage. Its net asset value will be calculated daily using a designated bitcoin pricing benchmark based on transactions from major spot exchanges. The fund will be passive, refraining from trading bitcoin based on market fluctuations.

Shares will only be created and redeemed in large blocks by authorized participants, either in cash or in kind. Cash transactions will be conducted through third-party bitcoin counterparties selected by the sponsor. Retail investors will have the opportunity to buy and sell shares on the secondary market through brokerage accounts.

Morgan Stanley’s filing comes in the wake of the rapid growth of spot bitcoin ETFs in the U.S. market over the last two years. Data from SoSoValue indicates that these funds now possess $123 billion in total net assets, which represents 6.57% of bitcoin’s overall market capitalization. Since the beginning of the year, net inflows to these products have exceeded $1.1 billion.

Morgan Stanley has also submitted a Form S-1 to the SEC for the Morgan Stanley Solana Trust, which aims to track the price of solana. As data reflects, these funds have accumulated over $1 billion in total net assets, following a cumulative net inflow of nearly $800 million.

Increased commitment to crypto

The filings demonstrate Morgan Stanley transitioning from merely distributing third-party crypto products to developing its own in-house offerings, indicating a deeper, more resolute commitment to digital assets.

This shift is likely propelled by the lucrative nature of the ETF and trust business, highlighted by the significant fee revenue traditional finance firms have generated from spot bitcoin products in a relatively short timeframe. For instance, BlackRock’s spot bitcoin ETFs became the firm’s leading revenue source in November of last year, as noted by BlackRock Brazil’s director of business development, Cristiano Castro, with allocations approaching $100 billion.

In contrast to asset managers like BlackRock, Morgan Stanley operates a vast wealth management division with thousands of advisors that granted clients crypto access in October of last year. By utilizing its own ETFs, the bank can integrate these products into its client portfolios, retaining management fees internally rather than compensating competitors.