Morgan Stanley Files for Bitcoin and Solana ETFs With the SEC

Morgan Stanley has submitted S-1 registration statements with the U.S. Securities and Exchange Commission (SEC) for two spot ETFs tracking Bitcoin and Solana. The filings were made on January 6, 2026, and aim to provide investors with direct exposure to the two cryptocurrencies.

The proposed Morgan Stanley Bitcoin Trust will hold Bitcoin directly, not through derivatives or leverage, and will track the price net of fees and expenses. It will be listed on a national securities exchange, with shares redeemable in large blocks by authorized participants according to filings.

The firm also filed for a Solana ETF with a staking mechanism, which will earn staking rewards and add them to the fund's net asset value. This structure differentiates it from earlier digital asset ETFs.

Why Did This Happen?

The move follows a broader shift in institutional finance toward regulated digital asset products. Spot Bitcoin ETFs have grown to $123 billion in assets under management, with Bitcoin ETFs alone making up 6.6% of the asset's market capitalization.

Morgan Stanley's decision reflects growing confidence in the market for digital assets. The firm recently expanded crypto access for all clients, including retirement accounts, and has positioned itself to compete with major players like BlackRock and Fidelity.

How Did Markets Respond?

Bitcoin prices have been volatile in recent months, fluctuating between $87,000 and $126,000. Despite this, the continued growth in ETF demand suggests that institutional interest remains strong.

Solana has also seen increased attention, with recent filings indicating that investors are seeking exposure to a broader range of digital assets beyond Bitcoin. This trend could lead to more diversified crypto ETF offerings.

What Are Analysts Watching Next?

The SEC's recent approval of generic listing standards for crypto ETFs has shortened the approval timeline from 240 to 75 days. This change is expected to increase the number of new products in the market, with some analysts predicting over 100 new crypto ETFs by the end of 2026.

Analysts are also watching how institutional demand evolves. While Bitcoin and Ethereum ETFs continue to dominate flows, altcoin ETFs remain sensitive to price cycles and market sentiment.

The approval of these ETFs could further legitimize digital assets as part of institutional investment portfolios. With more banks offering custody solutions and regulatory clarity increasing, digital assets are becoming more integrated into traditional finance.

Morgan Stanley's entry into the crypto ETF market comes at a time of growing regulatory support for digital assets. The firm's broader strategy includes expanding crypto access across all client accounts and leveraging its wealth management platform to provide seamless exposure.

The broader market is also seeing increased institutional interest, with firms like T. Rowe Price and Fidelity entering the space. This trend could lead to greater competition and innovation in the ETF sector.

Regulatory clarity is expected to remain a key factor in the growth of digital assets. In the U.S., the GENIUS Act has provided a framework for stablecoins, while Europe's MiCA regulations have brought greater consistency to compliance across member states.

As the market continues to evolve, the approval of these ETFs could mark a turning point for digital assets in institutional portfolios and mainstream investment strategies.