- Morgan Stanley files an S-1 for a trust that will track Bitcoin (BTC) and Solana (SOL).
- The Solana trust will stake SOL, with staking rewards reflected in its NAV.
- The SOL price rises 2.44%, breaking an important Fibonacci resistance level.
Morgan Stanley has officially filed a Form S‑1 with the U.S. Securities and Exchange Commission (SEC) to create separate trusts that would track Bitcoin and Solana.
This filing highlights the bank’s growing engagement with the crypto sector and reflects its strategy to provide clients with a broader range of digital asset investment options.
The proposed Solana Trust would allow investors to gain indirect exposure to Solana (SOL) without holding the cryptocurrency directly.
Morgan Stanley’s institutional approach to Solana
The S‑1 outlines plans to structure the Solana Trust as a Delaware statutory trust.
Shares in the trust are expected to track SOL’s performance through a designated pricing benchmark.
The trust will also custody some of its Solana holdings through regulated third‑party custodians.
By staking SOL, the trust aims to capture staking rewards and reflect those rewards in the fund’s net asset value (NAV).
Morgan Stanley’s involvement signals institutional confidence in financial products built on Solana and follows the adoption pathway seen with bank‑backed Bitcoin ETFs, which attracted substantial inflows after launch.
The trust is intended to be passively managed, meaning it will hold Solana without active trading or leverage.
Custody arrangements will involve regulated third parties to safeguard investor assets.
The S‑1 filing is preliminary; sales may only begin once the SEC declares the registration effective.
For investors who prefer exposure through traditional brokerage accounts, this trust could provide a potential avenue to access Solana.
Implications for the crypto market
Institutional adoption like this can reduce selling pressure on staked assets by creating longer‑term demand and more regulated custody solutions.
More than 563 million SOL are currently staked across the network, which contributes to price stability for the token.
Morgan Stanley’s Bitcoin vehicle would be named the Morgan Stanley Bitcoin Trust.
Similar to the Solana Trust, the Bitcoin Trust is expected to hold Bitcoin outright—without using derivatives or leverage—and to calculate NAV daily based on a price benchmark sourced from major spot exchanges.
Both funds would follow passive strategies, meaning they will not actively trade in response to short‑term market conditions.
Notably, Morgan Stanley’s filing follows recent inflows into Solana ETFs, underscoring a rising institutional interest in the token amid a broader shift from Bitcoin dominance to higher‑beta altcoin opportunities.
Regulators’ responses will be closely watched, especially as decisions on other proposed Solana ETFs proceed. Market participants view these developments as a positive sign for Solana’s long‑term liquidity and adoption.
Market reaction: Solana price movement
Solana’s price responded to the news with a notable rally.
Over the past 24 hours, Solana (SOL) rose 2.44% to $138.77, outperforming Bitcoin (BTC) and closely tracking Ethereum (ETH).
Trading volume for SOL jumped 43% to $5.1 billion, marking the strongest activity since December 2025.
Technical indicators show SOL cleared the 23.6% Fibonacci retracement level at $138.45 and the 7‑day simple moving average at $130.50.
The MACD histogram has turned positive, confirming bullish momentum, and the 14‑period RSI is also bullish though approaching overbought territory.
Immediate resistance sits at $151.18, while support is around $117.88, corresponding with Fibonacci levels.
Market observers will likely watch whether SOL can hold above the $138.45 support to confirm ongoing bullish momentum.
Short‑term volatility could increase ahead of an upcoming option expiration date, when roughly $145 million in contracts are expected to settle, adding an additional factor for traders to monitor.