Morgan Stanley Becomes First US Bank To File For Bitcoin, Solana ETFs – Not JPMorgan Or Goldman

• The move would allow the bank to capture management fees directly from crypto ETF assets.
• Rival banks such as JPMorgan and Goldman Sachs continue to offer crypto exposure mainly through institutional trading or external managers. 
• Bank-issued crypto ETFs could channel additional capital towards the cryptocurrency market.

Morgan Stanley (MS) filed applications on Tuesday to launch Bitcoin and Solana exchange-traded funds, positioning itself to become the first major U.S. bank to issue spot crypto ETFs directly.

The filings show that the funds would give advisors and institutional clients direct exposure to Bitcoin (BTC) and Solana (SOL), marking a step beyond peers such as JPMorgan Chase and Goldman Sachs, which currently offer only indirect crypto access through external managers or structured products.

However, Morgan Stanley’s stock edged 0.11% lower in pre-market trade. On Stocktwits, retail sentiment improved to ‘bearish’ from ‘extremely bearish’ over the past day as chatter rose to ‘high’ from ‘normal’ levels.

Meanwhile, Goldman’s stock edged 0.22% higher, and JPMorgan’s stock moved 0.14% lower in pre-market trade. All three banks are slated to report their fourth quarter (Q4) earnings next week.

Morgan Stanley Builds On Crypto Strategy

The filings build on Morgan Stanley’s decision in September to allow its advisors to recommend spot Bitcoin and Ethereum ETFs. Most banks have pushed for greater crypto exposure following the Trump administration's crypto-friendly stance and the passage of the GENIUS Act last year. 

JPMorgan has enabled crypto trading for institutional clients without filing for ETFs, while Goldman Sachs largely directs clients to products issued by firms such as BlackRock. Bank of America (BAC) recently approved four spot Bitcoin ETFs for advisors.

The crypto market has been in recovery mode since the New Year. Bitcoin’s price was defending $93,000 on Tuesday morning after briefly crossing $94,000 in the earlier session. Retail sentiment around the apex cryptocurrency on Stocktwits remained in ‘extremely bullish’ territory over the past day as chatter rose to ‘high’ from ‘normal’ levels. 

Meanwhile, Solana’s price outperformed Bitcoin, rising 2.7% in the last 24 hours to nearly $140. Retail sentiment around the altcoin on Stocktwits rose to ‘neutral’ from ‘bearish’ territory over the past day as chatter increased to ‘high’ from ‘normal’ levels.

Read also: The First US Crypto Fund To Pay Staking Rewards Is Also Staring At $5 Billion In Outflows

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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