Morgan Stanley Joins Wall Street’s Crypto Race With ETF Bid (1)

Morgan Stanley filed for Bitcoin, Ether and Solana exchange-traded funds, marking its first foray into the popular corner of the funds world two years after the explosion of crypto-focused ETFs in the US brought them into the mainstream.

The firm on Tuesday submitted paperwork for a Bitcoin Trust and a Solana Trust, each of which would hold the individual cryptocurrencies. The Solana product would allocate a portion to be staked, the process in which rewards are earned for allowing the tokens owned to be used to support the blockchain network. The trusts would be sponsored by Morgan Stanley Investment ...