Core Insights - Morgan Stanley has filed for an Ethereum Trust with the SEC, marking its third crypto ETF filing in 48 hours after registering Bitcoin and Solana trusts [1][6]. Group 1: Ethereum Trust Details - The Morgan Stanley Ethereum Trust will be a passive investment vehicle that holds ether directly and values shares daily based on a pricing benchmark from major trading venues [2]. - The trust plans to stake a portion of its ETH holdings and distribute rewards to shareholders at least quarterly, subject to IRS guidance [2][3]. - This structure allows investors to earn staking yield while holding shares in a traditional brokerage account, with a staking program implemented to earn network rewards while managing liquidity for redemptions [3]. Group 2: Wall Street's Crypto Expansion - The filings come as regulators under President Trump have adopted a more accommodating approach to crypto markets, enabling traditional financial firms to expand ETF offerings tied to digital assets [4]. - Morgan Stanley has broadened access to crypto funds for all clients, including those with retirement accounts, after previously limiting exposure to high-net-worth individuals [4]. - The bank partnered with Zerohash to enable trading of Bitcoin, Ethereum, and Solana through its E*Trade platform, following similar moves by Bank of America [5]. Group 3: Industry Shift - Morgan Stanley's rapid filings for Bitcoin and Solana Trusts represent a significant shift for Wall Street, indicating a growing acceptance of digital assets [6][7]. - The simultaneous movement of major banks like Goldman Sachs, JPMorgan, and Bank of America into crypto ETFs signals a structural change in how Wall Street perceives digital assets [7].

ETF Filings - Grayscale filed S-1 for Hedera ETF and S-3 filings to convert Litecoin and Bitcoin Cash Trusts into ETFs [1] - The goal is to provide investors with easier access to altcoins through regulated exchanges like NYSE Arca and Nasdaq [2] - These filings mirror Grayscale's strategy of converting Bitcoin and Ethereum Trusts into spot ETFs in 2024 [1] Regulatory Landscape - Nasdaq submitted a 19b-4 earlier this year to list the Hedera product [2] - Litecoin and Bitcoin Cash filings depend on proposed Generic Listing Standards awaiting SEC approval [2] - The SEC has not yet approved any of the new products [3] Industry Trends - Other issuers like Fidelity and VanEck have also proposed altcoin ETFs [2] - Bloomberg analysts suggest Litecoin has strong odds among altcoin ETF candidates [3] - If regulators approve, investors could gain mainstream exposure to Hedera, Litecoin, and Bitcoin Cash alongside Bitcoin and Ethereum [3]

RT Andrew Forte (@AndrewAsksHow)Big picture stuff happening in crypto right now:- BTC has been a standout climbing close to its all-time high of $112,000 in May 2025, with a year-to-date gain of about 15%, outpacing the S&P 500’s 7% rise- Circle’s IPO and Bank Charter: Stablecoin firm Circle, issuer of USDC went public with a $18 billion valuation and is applying for a U.S. national trust bank license. J.P. Morgan forecasts stablecoin market cap at $500 billion by 2028 tempering trillion-dollar expectations ...