Morgan Stanley, with almost $9 trillion in assets under management (AUM), has filed for an Ethereum ETF. This follows its filings for Bitcoin and Solana ETFs, as the Wall Street giant seeks to provide its clients with crypto exposure.
Morgan Stanley Files S-1 For Ethereum ETF With SEC
An SEC Filing shows that the asset manager has filed its registration statement for an ETH ETF. The Morgan Stanley Ethereum Trust seeks to generate returns by tracking the price of ETH.
Notably, the filing for an Ethereum ETF comes just a day after Morgan Stanley filed for Bitcoin and Solana ETFs. Similar to its Solana ETF filing, the ETH filing shows that the asset manager plans to engage in staking, generating yield on its ETH holdings for investors.
Furthermore, Morgan Stanley plans to offer in-kind creation and redemptions for its ETH Trust. Meanwhile, the filing doesn’t specify which exchange the fund will list on, the ticker, or other key details, such as the Trust’s custodian.
It is worth noting that, with the Ethereum ETF filing, the Wall Street giant has now filed ETFs for the crypto assets it plans to list when it rolls out crypto trading for its retail customers through its E-trade division. The firm is also likely to offer its BTC, ETH, and SOL ETFs to its wealth clients when they become effective, having already removed all restrictions on crypto investments for this client category.
Bitwise Chief Investment Officer (CIO) Matt Hougan had yesterday described Morgan Stanley’s move to offer crypto ETFs as “pretty remarkable.” This came as he noted that the firm manages 20 ETFs but mainly under the Calvert, Parametric, and Eaton Vance brands. As such, the BTC, ETH, and SOL ETFs will be the 3rd, 4th, and 5th to bear the ‘Morgan Stanley’ brand.
Meanwhile, market expert Nate Geraci described Morgan Stanley’s move to launch crypto ETFs as one that makes sense given their massive distribution. He added that the firm was clearly seeing meaningful client demand for crypto ETFs, which likely prompted this move.
Source: https://coingape.com/morgan-stanley-files-for-ethereum-etf-following-bitcoin-and-solana-filings/
