What Are Morgan Stanley’s New Crypto ETFs?
Recently, Morgan Stanley has taken a significant step by filing for two exchange-traded funds (ETFs): the Morgan Stanley Bitcoin Trust and the Morgan Stanley Solana Trust. Could this be a turning point as it stands as the first occasion a major U.S. bank has sought approval for in-house crypto ETFs?
These funds are set to facilitate direct exposure to the prices of Bitcoin and Solana respectively. The filings, submitted on January 6 to the U.S. Securities and Exchange Commission (SEC), reveal that the ETFs will possess the underlying assets directly, diverging from the use of futures contracts or derivatives. This makes them akin to existing spot crypto ETFs that have gained official approval in the past years.
