Morgan Stanley is significantly expanding its crypto presence, filing an amended S-1 registration for a spot Bitcoin ETF with Coinbase Custody and BNY Mellon as key partners for custody and operational roles. This move, surprising to some analysts given Morgan Stanley’s previous reluctance towards crypto products, positions the firm to capitalize on the surging demand for spot Bitcoin ETFs, mirroring successful launches by BlackRock and Fidelity. The trust will track the CoinDesk Bitcoin Benchmark and list on NYSE Arca if approved. Simultaneously, Morgan Stanley has also filed paperwork for a Solana Trust, though updates are pending. Separately, Kraken has achieved a landmark milestone, becoming the first crypto firm to secure direct access to the Federal Reserve’s core payments infrastructure through its Wyoming-chartered banking arm, Kraken Financial. This grants them a 'master account' allowing direct settlement of USD transactions. ICE also invested in OKX, boosting OKB token price by over 50%. These developments signal increasing integration of digital assets into traditional finance.
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