Morgan Stanley Files Third Crypto ETF In 48 Hours As Ethereum Trust Follows Bitcoin, Solana

Morgan Stanley (NYSE:MS) on Tuesday filed for an Ethereum (CRYPTO: ETH) Trust with the SEC, marking the bank’s third crypto ETF filing in 48 hours after registering Bitcoin (CRYPTO: BTC) and Solana (CRYPTO: SOL) trusts earlier this week.

Ethereum Trust Will Stake ETH For Yield

The Morgan Stanley Ethereum Trust will be a passive investment vehicle sponsored by Morgan Stanley Investment Management, holding ether directly and valuing shares daily based on a pricing benchmark derived from major trading venues, Decrypt reported.

The trust intends to stake a portion of its ETH holdings and distribute rewards to shareholders at least quarterly, subject to IRS guidance. 

This structure allows investors to capture staking yield while holding shares in a traditional brokerage account.

The filing states the trust will implement a staking program to earn network rewards while managing liquidity for redemptions.

Wall Street’s Crypto Push Accelerates

The filings come as regulators under President Donald Trump have adopted a more accommodating approach to crypto markets, opening the door for traditional financial firms to expand ETF offerings tied to digital assets.

Morgan Stanley broadened access to crypto funds to all clients in October, including those with retirement accounts, after previously limiting exposure to high-net-worth individuals. 

The bank also partnered with Zerohash in September to enable Bitcoin, Ethereum, and Solana trading through its E*Trade platform.

The move follows Bank of America Corp. (NYSE:BAC) allowing wealth advisers to recommend crypto allocations starting January. 

In December, the Office of the Comptroller of the Currency allowed banks to act as intermediaries on crypto transactions, narrowing the gap between traditional finance and digital assets.

Three Filings In Three Days

Morgan Stanley filed for a Bitcoin Trust and Solana Trust on Monday, both designed as passive investment vehicles that seek to track the performance of their respective cryptocurrencies.

The rapid-fire filings represent a major shift for Wall Street.

Morgan Stanley CEO and Chairman Ted Pick said in January 2025 that the bank’s approach hinges on regulatory comfort and whether the firm, as a highly regulated financial institution, can act as transactors.

The regulatory clarity under Trump has clearly accelerated that timeline. 

Morgan Stanley now seeks approval for three separate crypto ETFs spanning the largest digital assets by market cap.

When Goldman Sachs Group Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), Bank of America, and Morgan Stanley all move into crypto ETFs simultaneously, it signals a structural shift in how Wall Street views digital assets.

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