Morgan Stanley has disclosed a $29.9 million position in Bitwise's Solana staking exchange-traded fund, marking one of the largest public holdings of a Solana-specific product by a major traditional financial institution.
The firm also filed registration statements with the SEC in early January for its own Bitcoin and Solana trusts, signaling a rapid acceleration into crypto-linked products. Morgan Stanley only began allowing its advisors to recommend Bitcoin ETFs to eligible clients in mid-2024.
Solana's native token, SOL, has had a challenging year, trading around $82.48-roughly 38% below its starting price for 2025. Institutional interest does not shield an asset from volatility, and Solana's network has faced ongoing criticism over centralization concerns and past outages.
If approved, Morgan Stanley's in-house trusts would give its advisory network proprietary products to offer clients, a significant step beyond third-party ETFs like Bitwise's offering.