Morgan Stanley launches crypto ETF conversion service for wealthy clients

Morgan Stanley's wealth management division has partnered with Galaxy Digital to offer a service for high-net-worth clients that converts their directly held Bitcoin, Ethereum, and Solana into spot crypto ETFs, Barron's reported. The converted ETFs can then be used as collateral for loans, with a minimum transaction size of $5 million. This collaboration follows the U.S. SEC's approval in July 2025 of an in-kind conversion mechanism between directly held crypto assets and spot crypto ETFs.