Wall Street investment banking giant Morgan Stanley has been making frequent moves recently, with increasingly active actions in the cryptocurrency space. In the first half of the year, they planned to launch spot trading functions for Bitcoin, Ethereum, and Solana on their E-Trade electronic trading platform. More aggressively, in the second half of the year, they will launch their own digital wallet product.

This is not just small-scale activity. Jedd Finn, head of Morgan Stanley Wealth Management, explicitly stated in an interview: "This marks a profound shift in the operational logic of financial services infrastructure." As infrastructure gradually improves, the boundaries between traditional finance and decentralized finance will become increasingly blurred, and the integration of the two ecosystems will become an inevitable trend.

In the same week, Morgan Stanley also submitted an S-1 registration statement to the U.S. Securities and Exchange Commission, officially applying to launch spot ETF products for Bitcoin, Ethereum, and Solana.

Looking back to January 2024, when the U.S. first approved the listing of a Bitcoin spot ETF, Morgan Stanley described it as "a paradigm shift in global digital asset recognition and application." The facts have also proven this judgment. Since its launch, the total trading volume of Bitcoin spot ETFs has exceeded $1.6 trillion. There are currently 11 Bitcoin ETFs in the U.S., with total assets under management of approximately $130 billion. This number continues to grow, enough to demonstrate the market's enthusiasm.