Morgan Stanley has filed with US regulators to launch two cryptocurrency exchange-traded funds tied to Bitcoin and Solana. The proposed Bitcoin Trust and Solana Trust are designed to track spot market prices and, according to the filings, both vehicles would operate as passive funds rather than actively managed products.
That structure keeps the funds centered on price exposure instead of yield generation. The sponsor said it will not sell portfolio holdings in an attempt to capture returns beyond normal market moves. If the products receive approval, their shares are expected to trade on public exchanges, while the specific listings will be disclosed later through standard 19b-4 filings.
Trust design puts custody controls at the center
Morgan Stanley Investment Management will serve as sponsor for both trusts, and CSC Delaware Trust Company has been named as the Delaware trustee. The initial filings do not provide full custody details, but the bank said that most private keys will be held in cold storage.
A smaller share of the assets will remain in hot wallets to support daily operations. The setup reflects the security and compliance standards institutional investors usually expect. The filings also state that neither trust will use leverage or derivatives, keeping risk closely tied to spot-market performance.
ETF inflows show continuing demand for regulated exposure
The report points to strong demand in the broader ETF market. Spot Bitcoin ETFs drew $1.1 billion in inflows during the first two trading days of 2026, a move analysts linked to fresh investor positioning at the start of the year. The inflow data suggests that regulated crypto investment vehicles continue to attract capital and that investors are growing more comfortable with exchange-traded structures.
Solana has also received more institutional attention as firms look for broader digital-asset exposure. A trust that tracks price without requiring direct token custody fits more easily into traditional brokerage and wealth-management workflows.
Wall Street banks are widening access through approved vehicles
Morgan Stanley’s filings follow a wider shift among major financial institutions. Bank of America recently allowed advisers to recommend exposure to 4 Bitcoin ETFs across Merrill, Bank of America Private Bank, and Merrill Edge.
That change lets more than 15,000 advisers discuss Bitcoin ETFs with eligible clients, expanding access to regulated digital-asset products. Vanguard has also enabled crypto ETF trading for clients, after guidance from BlackRock that supported limited Bitcoin allocations.
Morgan Stanley has paired the ETF filings with internal policy changes that allow advisers to recommend crypto funds to IRA and 401(k) clients. Access had previously been limited to clients with at least $1.5 million in assets. Taken together, the filings and policy adjustments show the bank moving digital-asset exposure deeper into mainstream wealth management. If approved, the new products could reach more than 19 million clients in Morgan Stanley’s wealth management business.