Morgan Stanley has filed registration statements with U.S. regulators for new crypto-linked investment products, marking a deeper move into digital assets by one of Wall Street’s largest firms.

The filings cover trusts tied to Bitcoin and Solana prices. If approved, the products would give institutional and wealth clients regulated exposure to two of the market’s most actively traded cryptocurrencies.

Details of Morgan Stanley’s Bitcoin and Solana Trust Filings

Regulatory filings show Morgan Stanley submitted Form S-1 documents to the U.S. Securities and Exchange Commission for a Bitcoin Trust and a Solana Trust. Each vehicle aims to track the spot price of its underlying asset rather than rely on derivatives or leverage.

SHOCKER: Morgan Stanley just filed for a spot Bitcoin and Solana ETF. H/t @TheBlock__ pic.twitter.com/AmYLeDTJBy

— Eric Balchunas (@EricBalchunas) January 6, 2026

The Bitcoin Trust will hold Bitcoin directly and mirror its U.S. dollar price performance after expenses. The structure follows the now-standard spot ETF model, with daily net asset value calculations based on pricing data aggregated from major spot exchanges.

Morgan Stanley Investment Management will sponsor the trust. Authorized participants will create and redeem shares in large blocks, either in cash or in kind. Retail investors will access the product through secondary market trading once shares are listed on a national securities exchange. The firm has not yet disclosed the exchange, ticker, or custodian.

The Solana Trust mirrors the same basic framework while tracking SOL prices. Unlike the Bitcoin product, the Solana trust will also participate in staking activities, allowing the fund to generate yield alongside price exposure. The filing did not include details on staking partners, custody arrangements, or listing venues.

Why Morgan Stanley Is Building Its Own Crypto Funds

The filings reflect a strategic shift toward owning more of the crypto investment value chain. Morgan Stanley already allows clients to allocate capital to third-party Bitcoin ETFs, including funds from BlackRock and other issuers.

Bloomberg ETF analyst Eric Balchunas described the move as a logical next step. With more than $8 trillion in advisory assets, Morgan Stanley can justify offering branded products instead of routing assets into competing funds. He also suggested the filings could encourage other large banks to launch internal crypto ETFs.

Spot Bitcoin ETFs continue to attract strong demand. These products now control more than $123 billion in net assets, equal to nearly 7% of Bitcoin’s circulating market value. On January 5, U.S.-listed Bitcoin ETFs recorded close to $700 million in net inflows, the largest single-day figure since October’s market downturn.

The BlackRock Bitcoin ETF has emerged as one of its most profitable new products, highlighting the fee and scale potential that Morgan Stanley now seeks to capture directly. 

Solana Exposure and Broader Crypto Expansion

Morgan Stanley’s Solana filing places it among a limited group of issuers offering regulated SOL exposure. Spot Solana ETFs launched in October and have already accumulated roughly $1.09 billion in assets, accounting for about 1.4% of Solana’s market capitalization.

The ETF filings align with the firm’s wider digital asset push. Morgan Stanley plans to introduce direct crypto trading for Bitcoin, Ether, and Solana through its E-Trade platform, subject to regulatory approval. Executives have cited improving regulatory clarity in the U.S. as a key driver behind the expansion.