Morgan Stanley, the $1.3T asset management powerhouse, has filed an S-1 registration statement with the SEC for a new Ethereum Trust product. This marks a significant milestone in institutional crypto adoption, as one of Wall Street's most established players formally moves to offer structured Ethereum exposure to its clients. The S-1 filing indicates the company is preparing a publicly registered investment vehicle, a move that typically signals confidence in regulatory clarity around digital assets. Such institutional trust products could reshape how traditional money manages exposure to major cryptocurrencies like ETH, potentially opening doors for pension funds and other regulated entities seeking compliant on-ramps to the blockchain ecosystem.