In a significant institutional move, Morgan Stanley has updated its application for a Bitcoin investment trust with the SEC. The amended filing, submitted on March 4, designates Coinbase Custody and Bank of New York Mellon as custody partners. This step signals a deeper integration of cryptocurrency into traditional banking infrastructure, as the bank also pursues a Solana ETF.
On March 4, banking giant Morgan Stanley submitted an amended S-1 filing with the U.S. Securities and Exchange Commission for a Bitcoin Trust. The filing named Coinbase Custody and Bank of New York Mellon as its custody partners, combining crypto security with traditional banking.
The document states the Trust will be a passive product designed to simply track Bitcoin’s price. It will avoid leverage, derivatives, and active trading strategies often linked to higher risk. This structure appears aimed at reassuring regulators that the product focuses on simple price exposure rather than speculation.
The bank had initially filed for the Bitcoin Trust in January. That same month, it also took steps toward launching a “Morgan Stanley Solana ETF Trust,” signaling interest in the broader crypto ecosystem.
This institutional activity coincided with a rising total crypto market value of around $2.45 trillion. On the same day, U.S. Spot Bitcoin ETFs recorded about $461.9 million in net inflows, suggesting returning institutional demand. However, overall sentiment remained cautious, with the Crypto Fear and Greed Index reading 29, still in the “Fear” category.
Other major banks are pursuing different crypto strategies. Goldman Sachs reportedly holds significant positions in Bitcoin and Ethereum while allocating to altcoins. JPMorgan Chase has begun allowing certain clients to use crypto assets as collateral for loans.
Meanwhile, Citigroup is focusing on blockchain technology, testing tokenization projects on the Solana network. This landscape shows a competitive shift among institutions exploring the digital asset space.
