BREAKING: Morgan Stanley Takes a Leap into Solana and Bitcoin ETFs

Morgan Stanley, a major American investment bank, has made a significant move by filing for a Solana exchange-traded fund (ETF) and a Bitcoin ETF. These funds aim to track the performance of the respective cryptocurrencies while also utilizing strategies like staking to enhance returns.

Key Takeaways

Morgan Stanley has filed for a Solana ETF that aims to reflect the performance of the Solana blockchain's native token, SOL.
The ETF will use third-party custodians to securely hold the SOL assets.
Staking will be employed to earn rewards that contribute to the product’s net asset value (NAV).
Additionally, Morgan Stanley has applied to create a Bitcoin ETF, positioning itself alongside other prominent companies like BlackRock.

BREAKING: Banking Behemoth Morgan Stanley Files for Solana and Bitcoin ETFs

Main Content

American multinational investment bank Morgan Stanley has officially filed for a Solana exchange-traded fund (ETF). This new fund aims to track the performance of SOL, which is the native digital currency of the Solana blockchain. The performance will be measured against a specific Pricing Benchmark, and the fund will account for its expenses and liabilities.

To enhance security, the Trust will engage third-party custodians for holding the SOL assets. Furthermore, the Trust plans to implement staking, a process that allows the fund to earn rewards. These rewards are anticipated to positively affect the trust's net asset value (NAV).

In addition to the Solana ETF, Morgan Stanley has also submitted an application for a Bitcoin ETF. This move aligns them with other major financial institutions, including BlackRock and several other issuers, all seeking to enter the cryptocurrency ETF market.