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yesterday

Morgan Stanley Files Spot Bitcoin and Solana Trusts, With Staking Planned for SOL Fund

The applications now go to the SEC for review with key details like custodians, fees, and tickers still undisclosed.

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Photo: Mike Blake
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Overview

  • Morgan Stanley Investment Management submitted S-1s on Jan. 6 for the Morgan Stanley Bitcoin Trust and the Morgan Stanley Solana Trust.
  • The Bitcoin vehicle is a passive, spot-backed trust that holds BTC directly and prices NAV using a benchmark derived from major spot exchanges.
  • The Solana trust plans to stake a portion of its SOL so rewards accrue to the fund’s net asset value, introducing yield and staking-specific risks.
  • The filings do not name custodians, authorized crypto counterparties, fee levels, or ticker symbols, and the products await SEC effectiveness.
  • The move marks the first time a major U.S. bank has sought to sponsor spot crypto ETFs, reflecting looser bank guidance and strong ETF inflows, with SOL seeing a short-term price bump.