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

What does this mean? Traditional financial institutions are taking concrete action to increase their exposure to the crypto market. From an asset management perspective, ETF as a product format enables more mainstream investors to conveniently access digital assets without needing to directly operate wallets or exchange accounts. Morgan Stanley's move indicates that major institutions are no longer on the sidelines — they are preparing to arrange crypto exposure for their clients.

On the regulatory front, the SEC's approval progress is also worth noting. Whether such applications are approved 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.