For a decade, Wall Street played the safe game. They sold you BlackRock’s ETF, collected a ticket charge, and kept their hands clean.
Morgan Stanley ($1.5T in wealth management assets) just became the first major U.S. bank to issue its own crypto ETFs, Bitcoin and Solana, not just distribute it. They just filed to launch their own Bitcoin and Solana ETFs. They aren’t just facilitating the trade anymore, they are capturing the issuance fees, the custody economics, and the staking yields. [SEC filing]
