According to Fast Company, Morgan Stanley filed paperwork with the U.S. Securities and Exchange Commission on Tuesday, June 11, seeking approval to launch exchange-traded funds. The ETFs would be tied to the price of two specific cryptocurrencies: bitcoin and solana. This marks the first time a major U.S. bank has taken this step to launch its own crypto ETFs. The filings indicate the bank aims to deepen its presence in the cryptocurrency space. This move comes after recent regulatory clarity under the Trump administration and a December ruling from the Office of the Comptroller of the Currency that allowed banks to act as intermediaries on crypto transactions.
Why this is a big deal
Look, we’ve seen asset managers like BlackRock and Fidelity dive into bitcoin ETFs. But a bank? That’s different. Morgan Stanley isn’t just a fund company; it’s a massive, systemically important financial institution with a huge wealth management arm. This filing is a direct signal that they believe their clients—think wealthy individuals and institutions—are demanding this exposure. They’re not just dipping a toe in; they’re building a whole new product line. It legitimizes the asset class in a way that even the successful spot bitcoin ETFs haven’t fully done yet. Basically, the old guard is officially moving in.
The solana surprise
Here’s the thing that really caught my eye: the inclusion of solana. A bitcoin ETF was almost expected. But solana? That’s a bolder bet. It shows Morgan Stanley isn’t just playing it safe with the “digital gold” narrative. They’re looking at the broader crypto ecosystem and making a call on which protocols have staying power. This could open the floodgates for other altcoin ETFs from mainstream players. I mean, if Morgan Stanley is willing to put its name on a solana product, it forces every other big bank to at least consider it. The race for crypto product shelf space is officially on.
Strategy and timing
So why now? The article points to regulatory “clarity,” which is a generous way to put it. But the political winds have certainly shifted. With a more crypto-friendly stance from the current administration and specific rulings allowing banks to custody and facilitate crypto trades, the legal risk calculus has changed. For Morgan Stanley, this is a pure revenue and retention play. They can’t afford to let their clients go to Coinbase or a specialist crypto fund. They need to keep those assets under their roof, collecting fees. It’s a defensive move that also happens to be offensive. They get to be first, capture the early adopter clients, and set the standard.
What happens next
Don’t expect these ETFs to start trading tomorrow. The SEC approval process is a marathon, not a sprint, especially for a new asset like solana. There will be questions, delays, and probably some back-and-forth. But the dam has broken. If Morgan Stanley gets a green light, you can bet Chase, Citi, and Bank of America are watching closely. The real beneficiaries here are the big financial institutions themselves—they get a new fee-generating product—and, ironically, the crypto industry they once shunned. It gets a massive injection of credibility and, eventually, capital. The gap between traditional finance and crypto? It’s not just narrowing anymore. It’s being bridged by one of the biggest names on Wall Street.
