Overview
- On January 6, Morgan Stanley Investment Management filed S-1s for spot Bitcoin and Solana trusts that would hold the assets directly as passive vehicles without leverage or derivatives.
- On January 7, the firm submitted an additional S-1 for a Morgan Stanley Ethereum Trust designed to hold Ether and stake a portion of its holdings.
- The Solana and Ethereum prospectuses state that staking rewards would accrue to the funds’ net asset values and detail risks including unbonding periods, validator performance, and potential network forks.
- The trusts use a commodity-style structure outside the Investment Company Act of 1940, and all products await SEC review and potential approval.
- Ticker symbols, listing exchanges, and custodial partners are not disclosed in the filings, underscoring that the registrations are early-stage as banks move into issuing spot crypto ETFs.