Morgan Stanley's investment arm has launched exchange-traded funds tracking Ethereum and Solana, marking the first time a U.S. bank-affiliated asset manager has offered such products. The ETFs were approved by NYSE Arca.
What the ETFs cover
The funds provide exposure to Ethereum and Solana, two of the largest cryptocurrencies by market value. While other issuers have launched Bitcoin ETFs, this is the first instance of a major U.S. bank's asset manager offering ETFs for these specific assets.
Morgan Stanley is one of the largest financial institutions in the world. Its entry into crypto ETFs signals growing acceptance among traditional Wall Street firms. The move could pressure other bank-affiliated asset managers to follow suit.
Neither Morgan Stanley nor NYSE Arca have commented beyond the approval notice. The ETFs are now available for trading.
