Wall Street investment bank Morgan Stanley (MS) has filed to launch a series of new cryptocurrency exchange-traded funds (ETFs).
In its filing with the U.S. Securities and Exchange Commission (SEC), Morgan Stanley says it aims to launch a spot Bitcoin (BTC) ETF.
The product, which will be called the Morgan Stanley Bitcoin Trust, is structured as an ETF designed to track the spot price of BTC.
If approved, the fund’s shares are expected to list on a major U.S. stock exchange under a ticker symbol that has not yet been disclosed.
The Trust will hold Bitcoin directly rather than using derivatives or leverage. Its net asset value (NAV) will be calculated daily and the fund will be passively managed.
Morgan Stanley said it will not attempt to trade Bitcoin in the ETF based on market conditions.
The investment bank is the latest Wall Street firm to enter the rapidly expanding market for Bitcoin ETFs.
Since the first Bitcoin ETFs were approved two years ago, the funds have attracted $123 billion U.S. in total net assets, equivalent to 6.57% of the cryptocurrency’s total market capitalization.
Beyond Bitcoin, Morgan Stanley has also filed with the SEC to launch a Solana Trust meant to track the spot price of cryptocurrency Solana (SOL).
Morgan Stanley is moving to develop in‑house crypto products, signaling a deeper commitment to digital assets as the global market expands.
Morgan Stanley operates a large and profitable wealth management business and began offering cryptocurrencies to those clients in October of last year.
MS stock has gained 45% over the past year to trade at $186.54 U.S. per share. Bitcoin is currently trading at $93,600 U.S. per token, having fallen 6% over the last 12 months.
