Morgan Stanley Files for Bitcoin and Solana ETFs as Crypto Market Gains Momentum; Goldman Sachs Names Top Crypto Picks for 2026
By Harrison Miller | Updated January 6, 2026, 4:15 PM ET
Positive developments continue to ripple through the cryptocurrency market early this year, highlighted by Morgan Stanley’s recent filings for cryptocurrency exchange-traded funds (ETFs) and Goldman Sachs’ selection of key crypto players expected to lead in 2026. ### Morgan Stanley Submits Filings for Bitcoin and Solana ETFs
On Tuesday, Morgan Stanley (NYSE: MS) officially filed separate S-1 registration statements with the U.S. Securities and Exchange Commission (SEC) to launch two new ETFs: the Morgan Stanley Bitcoin Trust and the Morgan Stanley Solana Trust. These disclosures mark a significant move in traditional finance’s growing embrace of digital assets.
The proposed Bitcoin Trust intends to directly hold bitcoin, aiming to track its price excluding fees and expenses. Purchases of bitcoin will be conducted through an unnamed designated third party using cash. Similarly, the Solana Trust will track SOL tokens and hold them directly, also sourced from a third-party provider. One notable feature of the Solana Trust is its inclusion of a staking mechanism, whereby a portion of locked tokens helps operate the blockchain, generating rewards or interest — a common feature in proof-of-stake systems.
Morgan Stanley plans to list both ETFs on a national securities exchange, but no official launch date or ticker symbols have been announced yet.
Spot Bitcoin ETFs See Strong Inflows
The timing of Morgan Stanley’s filings coincides with an upswing in spot bitcoin ETF inflows. According to data from Farside Investors, spot bitcoin ETFs drew a substantial $697.2 million in investor flows on Monday — the largest single-day influx since October 7, 2025, when inflows hit $875.6 million.
Leading the inflows was BlackRock’s (NYSE: BLK) iShares Bitcoin Trust (IBIT), which absorbed $372.5 million on Monday after $287.4 million came in on the previous Friday. After a stretch of seven consecutive trading days with outflows in late December, spot bitcoin ETFs have reversed trend, posting inflows in three of the last four trading sessions and kicking off 2026 with $1.168 billion in cumulative inflows.
Goldman Sachs Names Top Crypto Picks for 2026
On Monday, Goldman Sachs (NYSE: GS) issued a report spotlighting its top recommended names in the cryptocurrency and brokerage sectors for 2026, adopting a "selectively constructive" stance. The firm forecasts a 10% year-over-year revenue growth within the sector and believes hybrid models blending traditional finance with digital assets will outperform niche, pure-play crypto firms.
Goldman Sachs upgraded Coinbase (NASDAQ: COIN) from neutral to buy, raising its price target to $303 from $294. The investment bank praised Coinbase’s recent product launches as enhancing the competitiveness of its core business and views the company as a "best-in-class play" on crypto infrastructure growth. Notably, Goldman emphasized Coinbase’s transition from cyclical reliance on trading volumes to more structural revenue sources like subscription services, custody offerings, and stablecoin products.
Additionally, the 2025 GENIUS Act and the anticipated passage of the CLARITY Act in early 2026 were identified as potential major catalysts for Coinbase and stablecoin issuer Circle (NASDAQ: CRCL). Goldman raised Circle’s price target to $88, maintaining a neutral rating but flagged interest rate sensitivity risks that could impact revenue.
In contrast, Rosenblatt Securities recently lowered its price target on Coinbase to $325 from $470, citing a material deceleration in Q4 trading volumes compared to Q3’s strong performance and a record-setting October. Despite this, Rosenblatt retained a buy rating, highlighting upside potential from Coinbase’s expanding product lineup.
Other Goldman Sachs top buy-rated picks include Robinhood (NASDAQ: HOOD), Interactive Brokers (NASDAQ: IBKR), and blockchain lending firm Figure Technology Solutions (NASDAQ: FIGR).
Core Scientific Shares Boosted by Analyst Upgrade
Shares of Core Scientific (NASDAQ: CORZ) initially surged nearly 7% on Tuesday after BTIG upgraded the stock from neutral to buy, although gains pared to just under 1% by market close. The upgrade followed shareholders’ rejection of a proposed merger with CoreWeave (NASDAQ: CRWV). BTIG anticipates Core Scientific will capitalize on the shifting power infrastructure market by securing new high-performance computing (HPC) colocation contracts, strengthening its position beyond crypto mining.
BTIG maintained a $23 price target for CORZ, citing expectations that the company “will hit the ground running” in powering emerging compute demands.
Market Snapshot and Crypto Stock Moves
Bitcoin hovered around $92,700 late Tuesday, slightly off Monday’s intraday high near $94,762. Coinbase shares slipped 1.7% Tuesday after recent gains, while Circle ticked upward. Strategy (MicroStrategy, NASDAQ: MSTR) shares declined 4%, but Figure Technology jumped 5%, extending gains above the technical buy point for a cup base chart pattern. Hut 8 (NYSE: HUT) also remained in a buy zone.
Bitcoin miners’ stocks showed mixed results as many trimmed gains following Monday’s rally.
Looking Ahead
Morgan Stanley’s ETF filings add to the growing mainstream institutional infrastructure supporting cryptocurrency investment, potentially opening access to more investors as regulatory frameworks evolve. Meanwhile, Goldman Sachs’ bullish outlook and analyst upgrades for major crypto firms suggest that select companies could see revenue growth amidst ongoing market maturation.
Investors should continue monitoring legislative developments, trading volumes, and broader macroeconomic factors such as interest rate policies that could significantly influence crypto asset performance and digital finance strategies in 2026. —
Follow Harrison Miller on X/Twitter @IBD_Harrison for more updates on stocks and cryptocurrency markets.
Related Reading:
- How to Track Cryptocurrency Prices and Trends
- MarketSurge New Year Sale: Invest Smarter in 2026
- Analyst Reports on Major Financial and Tech Stocks
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