Morgan Stanley files for ether trust after bitcoin and solana ETF push

• Morgan Stanley has filed a registration statement with the SEC for an Ethereum Trust.
• The filing comes days after the bank submitted paperwork for spot bitcoin and solana ETFs, as crypto ETFs have rapidly expanded in the U.S. over the past two years.
• Morgan Stanley began offering crypto access to clients in October through its wealth management arm, reflecting growing institutional adoption of digital assets.

Morgan Stanley (MS) has taken another step deeper into the crypto, filing a registration statement for an Ethereum Trust, according to a filing with the U.S Securities and Exchange Commission (SEC) on Tuesday.

The move follows filings submitted Tuesday for spot bitcoin BTC$91,227.36 and solana SOL$135.69 exchange-traded funds (ETFs), which followed a rapid expansion of crypto ETFs in the U.S. over the past two years.

Morgan Stanley’s expanding route into crypto demonstrates a broader trend among traditional financial (TradFi) institutions, which are increasingly seeking to offer digital asset products through familiar, regulated vehicles.

The bank opened crypto access to its clients in October via its wealth management arm.

Read more: Morgan Stanley files for bitcoin and solana ETFs, deepening crypto push

• KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
• This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
• Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
• Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
• Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

• Fireblocks said it bought TRES Finance, a crypto accounting and financial reporting platform, to bridge blockchain and traditional finance systems.
• The purchase cost $130 million, according to Fortune, which cited people familiar with the negotiations.
• TRES, which will operate as a standalone product, helps companies generate compliant financial records from blockchain activity, enabling them to meet audit standards and regulatory requirements.

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