Morgan Stanley, this Wall Street veteran, recently submitted a new application to the U.S. Securities and Exchange Commission—planning to launch a crypto asset-linked ETF product. According to the submitted documents, this financial giant is targeting two popular tracks: Bitcoin and Solana.

What does this mean? Traditional financial institutions are actively increasing their involvement in the crypto market. From an asset management perspective, ETF products allow more mainstream investors to conveniently access digital assets without directly operating wallets or exchange accounts. Morgan Stanley's move indicates that major institutions are no longer on the sidelines—they are preparing to offer clients exposure to crypto.

On the regulatory front, the progress of SEC approvals is also worth noting. The approval or rejection of such applications directly impacts the institutionalization of crypto assets within the U.S. financial system. Once approved, it could provide a reference path for other mainstream financial institutions, further promoting the integration of traditional finance and Web3.