Morning Minute: Morgan Stanley Files for Bitcoin, ETH and Solana ETFs

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

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GM!

Today’s top news:

• Crypto majors fall for first time in 2026; BTC at $92k
• Morgan Stanley files for BTC, ETH and SOL ETFs
• US Senate schedules key vote for crypto market structure bill for next week
• Hyperliquid releases progress map, leads to speculation of next airdrop
• Nike announced it has sold off RTFKT; Clone X jump 250%

💰 Morgan Stanley Files for Bitcoin, ETH and Solana ETFs

Wall Street isn’t just dipping a toe anymore.

They’re diving in headfirst.

📌 What Happened

Morgan Stanley filed paperwork with the SEC to launch spot Bitcoin and Solana ETFs yesterday, followed shortly by a filing for an Ethereum ETF as well, marking another major step by a top-tier Wall Street bank into regulated crypto products.

The filing comes as crypto ETF demand surged to start 2026.

U.S. spot Bitcoin ETFs just saw roughly $697M in net inflows on Monday, the largest single-day total since October, as Bitcoin pushed back toward the low-to-mid $90Ks.

That pushed their 2-day total for 2026 to $1.16B.

The timing matters.

After a choppy Q4 marked by drawdowns and tax-related selling, institutions appear to be stepping back in with size.

🗣️ What They’re Saying

“Back in October, Morgan Stanley dropped restrictions on financial advisors recommending crypto ETFs…
Now launching their own.
Makes sense given Morgan’s massive distribution.
Clearly they were seeing meaningful demand from clients for crypto ETFs.” – Nate Geraci, on X

🧠 Why It Matters

This is another quiet but important shift in the crypto market landscape.

The first major US traditional bank has filed for an ETF.

That matters for two reasons:

First, distribution. ETFs are how real money moves. RIAs, family offices, and institutional allocators don’t spin up crypto wallets or custody setups—they just buy the ETF.

Second, validation. When firms like Morgan Stanley file products like this, they’re signaling confidence that crypto exposure is no longer a fringe request from clients—it’s becoming table stakes.

Layer in the biggest ETF inflow day in months, and the message is clear:
Institutions are moving into crypto, and the pace is accelerating.

It doesn’t mean prices go straight up.

But it does suggest the floor under Bitcoin, and increasingly other crypto majors like ETH and Solana, is being reinforced by flows that tend to stick around.

That’s the thesis behind the supercycle. And it just might be playing out.

🌎 Macro Crypto and Markets

A few headlines that stood out:

• Crypto majors fell yesterday for the first time in 2026; BTC -2% at $92,000; ETH -1% at $3,210, SOL -1% at $138; XRP -5% to $2.24
• The U.S. Senate Banking Committee scheduled a key vote on the crypto market-structure bill next week, despite unresolved disputes over DeFi, stablecoins, and regulator mandates
• Ethereum network usage hit record daily transactions (2M+), though traders showed more bullishness on gold than ETH per sentiment markets
• Exchange balances for XRP tightened, pushing price squeezes higher and potentially supporting bullish continuation
• Telegram shared that it sold $450M of its TON over the course of last year

In Corporate Treasuries / ETFs

• The BTC ETFs saw $243M in net outflows on Tuesday, reversing the 2026 streak; ETH saw $115M in net inflows
• MSCI announced that it would not exclude Strategy or other crypto DATs from its index (MSTR +7% on the news)
• Bitcoin miner Riot Platforms sold ~2,200 BTC for nearly $200M in proceeds across late 2025, potentially fueling diversification into AI-related infrastructure

In Memes / Onchain Movers

• Meme majors were mostly red with Doge -2%, Shiba -4%, PEPE -3%, Bonk -4%, Pengu +-5%, WIF -9% and Fartcoin -4%
• fish (+70% to $10M) led onchain movers; Spark (+200%), SOL (+40%) and Kabuto (+70%) also saw notable moves

💰 Token, Airdrop & Protocol Tracker

• Hyperliquid shared a map of developments, teasing next airdrop
• Wasabi announced that its users would be eligible to receive 10% of their upcoming BOT token launch
• Rekt Drinks introduced their newest flavor as “Worldstar Cherry Cola”
• The RANGER ICO went live on MetaDAO
• Coinbase added MegaETH to its listing roadmap, indicating a TGE within the next 2-3 weeks

🚚 What is happening in NFTs?

• NFT leaders fell slightly on Tuesday; Punks -3% at 29.9 ETH, Pudgy -2% at 5 ETH, and BAYC even at 5.4 ETH; Hypurr +8% to 555 HYPE
• Clone X (+250%) and Project AEON (+27%) led top movers
• Nike announced that it has sold RTFKT (buyer not disclosed), leading to a 33% spike in Clone X