Morgan Stanley just took its biggest leap into crypto yet.

Wall Street just delivered another big message to the crypto world. Morgan Stanley—yeah, the one with nearly $9 trillion under management—filed S-1 registrations with the SEC for both Bitcoin and Solana ETFs. This isn’t a test run. They’re going straight after regulated, institutional exposure to both $BTC and $SOL

Here’s what they’re planning: two separate trusts, one for Bitcoin and one for Solana. The Bitcoin trust gives investors direct price exposure, nothing fancy. The Solana trust adds a twist—it’ll include staking, so the fund can actually earn yield while tracking SOL’s price. Both trusts use in-kind creation and redemption, which traders care about for better liquidity and tracking.

Of course, some details are still under wraps. The filings don’t mention who’s holding the coins or which exchanges will list the ETFs. That’s pretty normal for an early filing, but let’s be real—the message is obvious. Morgan Stanley wants to be ready to move the second regulators give the green light.

And honestly, it’s not like this came out of nowhere. Last year, Morgan Stanley opened up Bitcoin access to all its wealth clients and rolled out plans for crypto trading through E-Trade. Leadership already said Bitcoin, Ethereum, and Solana were the first assets on their list. Filing their own ETFs just makes sense.

Bloomberg’s Eric Balchunas called the move smart. Morgan Stanley already lets clients invest in Bitcoin funds, so launching their own branded product keeps those assets in-house instead of sending business over to rivals like BlackRock.

Timing is a big deal here. Spot Bitcoin ETFs already hold more than $123 billion—about 7% of Bitcoin’s total market cap—and just hit their biggest daily inflow since the crash last October. Solana ETFs are much newer but have already topped $1 billion.

Bottom line? Crypto isn’t a Wall Street experiment anymore. Firms like Morgan Stanley are building around it. When giants like this start filing, it’s tough to argue about where things are headed.

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