On March 27, 2026, the U.S. Securities and Exchange Commission (SEC) issued a final ruling on 91 long-pending cryptocurrency asset ETF applications, and the Solana staking ETF was officially approved. This decision clears the final institutional regulatory hurdle for Solana to enter mainstream financial markets, and also means that the U.S. cryptocurrency regulatory framework has moved from the “whether to approve” stage to the substantive stage of “how to manage.” Against this backdrop, Morgan Stanley submitted its own Solana trust fund application in January 2026 and plans to launch in the third quarter, marking the official entry of traditional banking into the crypto compliance market.

On March 27, 2026, the U.S. Securities and Exchange Commission (SEC) issued a final ruling on 91 long-pending cryptocurrency asset ETF applications, and the Solana staking ETF was officially approved. This decision clears the final institutional regulatory hurdle for Solana to enter mainstream financial markets, and also means that the U.S. cryptocurrency regulatory framework has moved from the “whether to approve” stage to the substantive stage of “how to manage.” Against this backdrop, Morgan Stanley submitted its own Solana trust fund application in January 2026 and plans to launch in the third quarter, marking the official entry of traditional banking into the crypto compliance market.

From mass rulings to institutional involvement

On March 27, 2026, the SEC issued final rulings on 91 ETF application documents covering 14 issuers. The outcome of the rulings was not simply