On Tuesday, Morgan Stanley submitted an application to the U.S. Securities and Exchange Commission, seeking approval to launch Bitcoin and Solana exchange-traded funds (ETFs). This marks Morgan Stanley's formal foray into this rapidly expanding field, coming two years after U.S. cryptocurrency ETFs first garnered widespread attention. The planned Bitcoin Trust and Solana Trust will directly invest in and hold the corresponding cryptocurrencies. Additionally, the Solana product will allocate a portion of its assets to staking, aiming to generate returns. This strategic move is set to bolster Morgan Stanley's position in the cryptocurrency market and further propel the growth of cryptocurrency ETFs.
