Morgan Stanley has officially submitted registration applications to the U.S. Securities and Exchange Commission for Bitcoin and Solana trust products, currently under review. This move marks the beginning of Wall Street's top investment banks officially entering the crypto asset market.

From an institutional perspective, this step by Morgan Stanley is highly significant. Once the trust products are approved by the SEC, traditional financial institutions and high-net-worth investors will be able to participate in the crypto market through more regulated and compliant channels. This could trigger several chain reactions: firstly, a large influx of institutional funds may become possible, driving up the prices of mainstream cryptocurrencies like BTC and SOL; secondly, the overall institutionalization process of the market could accelerate, reducing the influence of retail investors.

However, it is important to stay cautious. The SEC’s approval process often takes a long time — we can still remember how lengthy the approval process for Grayscale’s Bitcoin Trust was. The possibility of rejection cannot be completely ruled out. Even if the trust products are ultimately approved, this only provides an entry point for institutional investment and does not necessarily lead to a sharp price surge.

There are other factors to watch as well: whether competing chains like Ethereum and Avalanche can divert some attention, and whether regulatory policies might change. These are variables that could influence subsequent market trends.

Investors are advised to continue monitoring the progress of this event while avoiding over-concentrated bets on a single asset. Market opportunities and risks often coexist, and rational risk management should always come first.