Morgan Stanley, which boasts almost $9 trillion in assets under management (AUM), is making further headways into the crypto space. This time, the asset manager has filed for Bitcoin and Solana ETFs, which will provide institutional investors with price exposure to these top crypto assets.
Morgan Stanley Files S-1 For Bitcoin and Solana Trusts
SEC filings show that the Wall Street giant has filed for both Bitcoin and Solana Trusts with the U.S. Securities and Exchange Commission (SEC). The Bitcoin Trust will seek to generate returns by tracking the BTC price, providing spot exposure to the flagship crypto.
Morgan Stanley has yet to reveal which exchange it will list the BTC ETF on. The asset manager also didn’t name the Trust’s custodian in the filing. Meanwhile, it plans to offer in-kind creation and redemption for the fund.
Similarly, the Solana Trust will seek to generate returns by tracking the SOL price. The asset manager also plans to engage in staking activities to generate yields for investors.
Furthermore, Morgan Stanley plans to offer in-kind creation and redemption for the Solana ETF. The asset manager didn’t name the Trust’s custodian in the filing, and other key details, such as the exchange on which the fund will be listed.
These filings mark a significant move as traditional firms continue to embrace crypto. It is worth noting that Morgan Stanley last year announced plans to roll out crypto trading for its retail customers through its E-trade division this year.
Jed Finn, the firm’s head of wealth management, revealed back then that they plan to list Bitcoin, Ethereum, and Solana first. Meanwhile, in October last year, Morgan Stanley also opened Bitcoin investments to all its wealth clients, removing earlier restrictions. The asset manager will likely move to offer its BTC ETF once it gets approval from the SEC.