Morgan Stanley, a Wall Street giant making rapid strides in the cryptocurrency world, has applied for a spot Ethereum (ETH) ETF.
According to CoinDesk, following its applications for Bitcoin and Solana (SOL) ETFs, Morgan Stanley has filed an S-1 application with the U.S. Securities and Exchange Commission (SEC) to create an Ethereum Trust.
Establishing a trust is generally considered equivalent to applying for an ETF.
Morgan Stanley also filed applications with the SEC yesterday regarding Bitcoin and the Solana ETF.
The Wall Street giant’s move is said to reflect a trend among traditional financial institutions to offer digital asset products through familiar and regulated channels.
As you may recall, Morgan Stanley, reflecting the increasing adoption of digital assets at the institutional level, began offering its clients access to cryptocurrencies through its asset management arm in October.
*This is not investment advice.
