2026-01-08 03:34:13

Morgan Stanley's recent moves in the crypto space are quite aggressive. On Tuesday, they applied to launch a Bitcoin and Solana spot ETF, and less than 24 hours later, they submitted an application for an Ethereum spot ETF to regulators.

This multi-trillion-dollar asset management bank is shifting from a "watching the excitement" role to an active participant.

Their planned Ethereum trust product design is quite interesting — in addition to directly holding Ethereum to track its price, they also plan to allocate some assets to staking to increase returns. But there's a detail: the earnings from these stakings are not directly distributed to investors but are reflected in the fund's net asset value. This approach is different from Grayscale's plan, which has already started paying staking yields directly to Ethereum ETF holders.

Morgan Stanley dares to enter so aggressively because the spot ETF market has already taken off. According to the latest statistics, the total trading volume of cryptocurrency spot ETFs in the US has surpassed $2 trillion. The market enthusiasm is evident, and large institutions can no longer sit still.

BTC1,34%

SOL4,55%

ETH2,03%

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AirdropGrandpa

· 01-11 03:19

Morgan Stanley is really getting anxious, submitting three applications within 24 hours—this pace is incredible. Waiting for approval, it feels like this wave of ETFs is about to heat up again. Pledge yields hidden in the net asset value? Grayscale's move is even more straightforward. A market cap of 2 trillion is indeed huge. Are institutions being forced to enter, or are they genuinely optimistic? Old institutions are finally taking it seriously; they were just pretending to be dead before.

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ConsensusBot

· 01-10 18:06

Morgan Stanley's move is really aggressive, applying for three ETFs in 24 hours in a row, afraid of falling behind if they wait a day longer. Grayscale directly pays dividends while Morgan secretly increases net asset value; these two tactics are quite clever. With a trading volume of 2 trillion, how could Wall Street still be pretending to sleep? This is the real institutional entry. Ethereum, just wait and see if it can break through the new high.

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MetaMaskVictim

· 01-10 17:17

Damn, is Morgan crazy? Applying three times in 24 hours, aren't they afraid of approval dad slapping their face? Big institutions smell the market’s scent and rush in, this move is indeed fierce. Staking yields not directly paid out as dividends? This design is a bit convoluted, better to just give it directly like Grayscale for a more straightforward approach. With a 2 trillion trading volume sitting here, waiting idly is just foolish. Finally, it’s Wall Street’s turn to play, the crypto world is about to change.

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AirdropBlackHole

· 01-10 11:56

Morgan Stanley's recent moves are no joke; three consecutive actions in 24 hours are quite aggressive. Wait, staking rewards are not paid out directly? This design is completely opposite to Gray's. Whose plan is more attractive? The time for the battle royale has arrived; only when institutions start moving will it truly take off. Now Solana has been pulled into the mix as well, it seems this isn't something you can just dabble in and be done. A market cap of two trillion, no wonder even a major backer like Morgan can't sit still. Including staking rewards in the net asset value instead of paying dividends is probably to make the fund size look more impressive, right? What does it mean when big institutions enter the market? After bottoming out, it's time to start selling. Spot ETF surpassing two trillion; with this momentum, what reason is there not to believe in Bitcoin? I'm a bit curious—will Morgan Stanley's staking scheme eventually be disliked by investors?

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LowCapGemHunter

· 01-08 04:04

Morgan Stanley's move is truly impressive, launching three ETF applications within 24 hours. This is a tactic to incorporate staking yields into net assets. Big institutions are finally getting anxious; who wouldn't want a bite of the 2 trillion dollar cake? Grayscale is directly paying dividends, while Morgan Stanley is hiding it in the net asset value... these two approaches are quite different. Wait, isn't this a covert way to steal traffic? I really didn't expect Wall Street to be this fired up this time; it feels like the crypto sector is about to change dramatically.

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StakeOrRegret

· 01-08 04:04

Morgan Stanley's approach is indeed aggressive, with three ETF applications in one go. It seems they've been unable to sit still after seeing the $2 trillion trading volume, haha. I'm curious to see how they handle the fact that pledge yields are not directly distributed as dividends, which is completely opposite to Grayscale's approach. Institutional investors' current move is truly different; they used to just watch the excitement, but now they're going all in.

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MechanicalMartel

· 01-08 04:03

Morgan Stanley can't keep up with this pace anymore. In 24 hours, they've applied three times in a row, directly turning into a money printing machine mode.

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CodeAuditQueen

· 01-08 04:01

Staking rewards are hidden in the NAV... This design is a bit clever, feels like playing with smart contract state hiding? I need to review the audit report thoroughly to feel assured.

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SwapWhisperer

· 01-08 03:59

Morgan Stanley's move is incredible, with three applications in 24 hours. They're really challenging Grayscale. The tactic of not distributing staking rewards directly but instead incorporating them into the net asset value feels like a psychological game. With a 2 trillion trading volume sitting right here, big institutions are truly getting anxious.

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MetaMaximalist

· 01-08 03:57

tbh morgan stanley's staking mechanism through nav appreciation is lowkey the smarter long-term play here—direct yield distribution is so 2023. institutional players finally understanding protocol sustainability over quick farming returns, that's the real inflection point nobody's talking about

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