In brief
- Morgan Stanley filed for an Ethereum Trust on Tuesday, on the heels of this week's filings for Bitcoin and Solana trusts.
- The Ethereum Trust will implement a staking program to earn network rewards while managing liquidity for redemptions.
- The bank's filing comes after Morgan Stanley opened crypto access to all clients in October 2025.
Morgan Stanley has filed with the U.S. Securities and Exchange Commission to launch an Ethereum Trust, on the heels of its registrations for spot Bitcoin and Solana exchange-traded products, expanding its crypto footprint in early 2026.
The Wall Street giant filed a registration statement with the U.S. Securities and Exchange Commission on Tuesday for the Morgan Stanley Ethereum Trust, an exchange-traded fund designed to track the price of ETH and distribute staking rewards to investors.
The filings come as regulators under U.S. President Donald Trump have adopted a more accommodating approach to crypto markets, opening the door for traditional financial firms to expand ETF offerings tied to digital assets.
The Ethereum Trust would be a passive investment vehicle sponsored by Morgan Stanley Investment Management, holding ether directly and valuing shares daily based on a pricing benchmark derived from major trading venues, according to the Form S-1.
The filing states that the trust intends to stake a portion of its ETH holdings and distribute rewards to shareholders at least quarterly, subject to IRS guidance.
ETH was trading at about $3,211 at the time of writing, down roughly 0.7% on the day, according to CoinGecko data.
Crypto Expansion
The latest move builds on a steady expansion of the bank’s crypto strategy.
Morgan Stanley broadened access to crypto funds to all clients in October, including those with retirement accounts, after previously limiting exposure to high-net-worth individuals.
Last September, the firm also confirmed it had partnered with Zerohash to enable Bitcoin, Ethereum, and Solana trading through its E*Trade platform.
Early last year, the bank's CEO and Chairman, Ted Pick, said that the bank’s approach hinges on regulatory comfort.
“For us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors,” he said in a January interview.