Morgan Stanley Files for Bitcoin and Solana ETFs Amid Institutional Push
Institutional giants made aggressive moves into crypto as Morgan Stanley filed for new funds and Grayscale delivered the first staking yield to ETF investors, providing a tailwind for crypto-adjacent equities and mining stocks. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radioBITCOIN BREAKS $94,000, LIFTING CRYPTO-LINKED EQUITIES:The price of bitcoinbroke through the $94,000 level on Monday, its highest point since early December, driven by a resurgence in institutional demand. Alongside bitcoin, other major assets saw gains, with etherrising over 3% and solanaclimbing nearly 4%. Beyond price action, corporate adoption continues to evolve.MORGAN STANLEY FILES FOR BITCOIN AND SOLANA ETFS AMID INSTITUTIONAL PUSH:Morgan Stanleyhas submitted paperwork to launch its own spot cryptocurrency funds., the bank filed for a bitcoin trust and a solana trust, marking its first direct entry into the ETF issuer space for digital assets. The proposed solana product is notable for allocating a portion of its holdings to be staked, a process that earns network rewards in a similar fashion to being paid dividends on traditional equities. This filing arrives as heavyweights deepen their involvement in the sector, with firms like Goldman Sachs, JPMorgan, and Citialready expanding their institutional crypto trading, custody, and tokenization efforts. While Morgan Stanley has previously allowed clients to trade ETFs from other issuers, this move signals a shift toward proprietary product offerings in a market where competitors like BlackRockhave already attracted billions in assets.GRAYSCALE DISTRIBUTES FIRST DIVIDEND-LIKE YIELD FROM ETHER ETF:Grayscale. The Grayscale Ethereum Staking ETF distributed approximately 8c per share to eligible shareholders, representing proceeds from staking rewards earned in late 2025. This payout marks the first time a U.S.-listed spot crypto ETF has successfully passed blockchain-native yield through to investors, effectively turning ether into a revenue-generating asset similar to a dividend stock. Rather than distributing the cryptocurrency directly, Grayscale monetized the rewards to pay investors in cash, bridging the gap between decentralized finance mechanics and traditional brokerage accounts.EXCHANGES AND INFRASTRUCTURE PROVIDERS SEE RECORD ENGAGEMENT:Trading platforms are evolving to meet the demands of sophisticated investors. CME Group, driven significantly by a 139% jump in crypto derivatives.. The exchange noted that institutional engagement is rising, particularly for capital-efficient instruments like micro bitcoin and micro ether futures.MINERS POST STRONG GAINS LED BY AMERICAN BITCOIN:Bitcoin mining stocks outperformed the broader market as the underlying asset appreciated., American Bitcoinled the sector with a 14% jump, pushing the stock back above $2. The rally extended across the industry, with Hut 8rising 13.6% and rig manufacturer Canaanadding nearly 9%. Other significant gainers included IREN, Cipher Mining, CleanSpark, MARA Holdings, Bitdeer, Bitfarms, and HIVE Digital, most of which posted gains between 5% and 13% as they continue to pivot toward high-performance computing and AI infrastructure.PRICE ACTION:As of time of writing, bitcoin was trading at $93,448.15, while ether was trading at $3,268.31,.
Trade with 70% Backtested Accuracy
Analyst Views on MS
About MS
About the author
Chipotle Plans Continued Price Increases Targeting High-Income Customers
- High-Income User Insight: Chipotle CEO Scott Boatwright revealed in a recording that 60% of core users earn over $100,000 annually, providing the company with confidence to target this demographic more effectively, potentially enhancing brand loyalty and sales.
- Earnings Beat Expectations: In its Q4 2025 report, Chipotle posted adjusted earnings per share of $0.25, exceeding the $0.24 consensus, with revenue of $2.98 billion surpassing the $2.96 billion estimate, demonstrating resilience in profitability despite operational challenges.
- Sales Decline: Despite the strong earnings report, comparable restaurant sales fell 2.5% year-over-year, primarily due to a 3.2% decrease in transactions, indicating challenges in customer traffic that could impact future growth potential.
- Market Performance Analysis: Chipotle has a market capitalization of $219.53 billion, with a 52-week high of $124.17 and a low of $55.51, while the current Relative Strength Index (RSI) stands at 53.13, suggesting the stock is in a long-term consolidation phase with short-term upward momentum.
UiPath Attracts Institutional Investor Interest
- Institutional Investment Surge: Vanguard Group added 1.2 million shares in December, a 2.5% increase; BlackRock raised its stake by 6.9% as of September 30, 2025, while Bank of America and Morgan Stanley increased their positions by 9.8% and 11.21%, respectively, indicating strong institutional confidence in UiPath.
- Significant Revenue Growth: In Q3 of fiscal 2026, UiPath reported revenue of $411 million, a 16% year-over-year increase, with annual recurring revenue (ARR) hitting $1.78 billion, up 11%, showcasing robust performance in the SaaS sector.
- Expanding Customer Base: The number of customers with ARR over $100,000 grew by 12% to 2,506, while those exceeding $1 million increased by 10% to 333, reflecting UiPath's appeal and market penetration among high-value clients.
- Strong Cash Flow and Debt Position: The company saw free cash flow rise by 8.2% to $25.11 million, with a net cash position of $744.1 million and total debt of only $82 million, indicating solid financial health despite not yet achieving net profitability, suggesting strong future growth potential.
UBS Hires $1 Billion Advisory Team from Bank of America's Merrill Lynch
UBS Recruitment: UBS has hired a financial advisor team that previously managed $1 billion at Merrill.
Advisor Head Count: This recruitment indicates that UBS may be looking to counterbalance recent declines in its advisor head count with new hires this year.
Bloom Energy Dominates the Fuel-Cell Market and Aims for Greater Ambitions.
Bloom Energy's Market Position: Bloom Energy's latest earnings report confirms its significant role in the data-center power sector, moving beyond its previous niche as a clean-energy company.
Competitive Landscape: The company is actively seeking to capture market share from established power production giants like GE Vernova.
Super Bowl Commercials Take a Break: Reasons Financial Advisors Are Holding Back.
Super Bowl 2024 Ad: Morgan Stanley’s E*Trade featured an ad with "Picklebabies," toddlers playing pickleball, discussing financial preparedness.
Campaign Success: The ad resulted in a 73% increase in E*Trade site visits and a 14% rise in gross new accounts year-over-year, according to MMA Global.
Rocket Lab Secures $816 Million Contract with U.S. Space Force
- Major Contract Awarded: Rocket Lab secured an $816 million contract from the U.S. Space Force in December to design and manufacture 18 satellites, elevating its total defense contract value above $1 billion and solidifying its position in the aerospace sector.
- Analyst Rating Upgrade: Morgan Stanley upgraded Rocket Lab from 'Equal Weight' to 'Overweight', raising its price target from $67 to $105, citing the company's proven execution capabilities in the capacity-constrained medium-lift market as a key driver.
- Successful Rocket Launches: The company successfully launched two rockets in January, surpassing the 80-mission mark, which reflects its high-level execution and boosts investor confidence in its operational capabilities.
- Execution Risks Emerge: Despite its achievements, Rocket Lab faces significant execution risks, particularly after NASA canceled the $4 billion Mars Sample Return program and a testing failure in the Neutron rocket program, raising concerns among investors about future performance.
Chipotle Plans Continued Price Increases Targeting High-Income Customers
- High-Income User Insight: Chipotle CEO Scott Boatwright revealed in a recording that 60% of core users earn over $100,000 annually, providing the company with confidence to target this demographic more effectively, potentially enhancing brand loyalty and sales.
- Earnings Beat Expectations: In its Q4 2025 report, Chipotle posted adjusted earnings per share of $0.25, exceeding the $0.24 consensus, with revenue of $2.98 billion surpassing the $2.96 billion estimate, demonstrating resilience in profitability despite operational challenges.
- Sales Decline: Despite the strong earnings report, comparable restaurant sales fell 2.5% year-over-year, primarily due to a 3.2% decrease in transactions, indicating challenges in customer traffic that could impact future growth potential.
- Market Performance Analysis: Chipotle has a market capitalization of $219.53 billion, with a 52-week high of $124.17 and a low of $55.51, while the current Relative Strength Index (RSI) stands at 53.13, suggesting the stock is in a long-term consolidation phase with short-term upward momentum.
UiPath Attracts Institutional Investor Interest
- Institutional Investment Surge: Vanguard Group added 1.2 million shares in December, a 2.5% increase; BlackRock raised its stake by 6.9% as of September 30, 2025, while Bank of America and Morgan Stanley increased their positions by 9.8% and 11.21%, respectively, indicating strong institutional confidence in UiPath.
- Significant Revenue Growth: In Q3 of fiscal 2026, UiPath reported revenue of $411 million, a 16% year-over-year increase, with annual recurring revenue (ARR) hitting $1.78 billion, up 11%, showcasing robust performance in the SaaS sector.
- Expanding Customer Base: The number of customers with ARR over $100,000 grew by 12% to 2,506, while those exceeding $1 million increased by 10% to 333, reflecting UiPath's appeal and market penetration among high-value clients.
- Strong Cash Flow and Debt Position: The company saw free cash flow rise by 8.2% to $25.11 million, with a net cash position of $744.1 million and total debt of only $82 million, indicating solid financial health despite not yet achieving net profitability, suggesting strong future growth potential.
UBS Hires $1 Billion Advisory Team from Bank of America's Merrill Lynch
UBS Recruitment: UBS has hired a financial advisor team that previously managed $1 billion at Merrill.
Advisor Head Count: This recruitment indicates that UBS may be looking to counterbalance recent declines in its advisor head count with new hires this year.
Bloom Energy Dominates the Fuel-Cell Market and Aims for Greater Ambitions.
Bloom Energy's Market Position: Bloom Energy's latest earnings report confirms its significant role in the data-center power sector, moving beyond its previous niche as a clean-energy company.
Competitive Landscape: The company is actively seeking to capture market share from established power production giants like GE Vernova.
Super Bowl Commercials Take a Break: Reasons Financial Advisors Are Holding Back.
Super Bowl 2024 Ad: Morgan Stanley’s E*Trade featured an ad with "Picklebabies," toddlers playing pickleball, discussing financial preparedness.
Campaign Success: The ad resulted in a 73% increase in E*Trade site visits and a 14% rise in gross new accounts year-over-year, according to MMA Global.
Rocket Lab Secures $816 Million Contract with U.S. Space Force
- Major Contract Awarded: Rocket Lab secured an $816 million contract from the U.S. Space Force in December to design and manufacture 18 satellites, elevating its total defense contract value above $1 billion and solidifying its position in the aerospace sector.
- Analyst Rating Upgrade: Morgan Stanley upgraded Rocket Lab from 'Equal Weight' to 'Overweight', raising its price target from $67 to $105, citing the company's proven execution capabilities in the capacity-constrained medium-lift market as a key driver.
- Successful Rocket Launches: The company successfully launched two rockets in January, surpassing the 80-mission mark, which reflects its high-level execution and boosts investor confidence in its operational capabilities.
- Execution Risks Emerge: Despite its achievements, Rocket Lab faces significant execution risks, particularly after NASA canceled the $4 billion Mars Sample Return program and a testing failure in the Neutron rocket program, raising concerns among investors about future performance.
