Morgan Stanley is making new moves in the cryptocurrency asset space. This Wall Street giant has submitted a registration application for an Ethereum trust to the U.S. Securities and Exchange Commission, shortly after the applications for spot Bitcoin and Solana ETFs. Notably, Morgan Stanley had already opened up cryptocurrency investment channels to high-net-worth clients through its wealth management division as early as October last year. From single assets to multi-chain ecosystems, traditional financial giants are increasingly clear about their stance on the crypto market — this is no longer just testing the waters, but strategic accumulation.