Morgan Stanley Wealth Management has launched a new referral arrangement with Galaxy Digital, giving eligible clients a streamlined way to move directly held crypto into spot crypto exchange-traded product shares. The arrangement covers specified digital assets such as Bitcoin, Ether and Solana. Under Galaxy’s model, a client lends crypto assets to Galaxy. If Galaxy determines the loan can be settled in ETP shares, it coordinates an in-kind creation with an authorized participant, and the ETP shares are delivered into the client’s chosen account.