Morgan Stanley files for spot bitcoin and solana ETFs: CNBC Crypto World

Watch on YouTube ↗  |  January 06, 2026 at 21:29  |  12:41  |  CNBC
Speakers
John D'Agostino — Coinbase Institutional
Brian Dobson — Managing Director, Senior Analyst at Clear Street
Talia Kaplan — Host, CNBC Crypto World

Summary

CNBC Crypto World covers mixed crypto prices, Morgan Stanley's spot Bitcoin and Solana ETF filings, and bank lobbying on stablecoin yield. Clear Street's Brian Dobson outlines a 2026 outlook where Bitcoin miners shift toward AI/HPC, naming CleanSpark as top pick and also favoring Riot, Cipher Mining, Hut 8, Bitfarms, Bit Digital, and White Fiber. Coinbase's John Dagghastino sees crypto rebuilding after an October liquidity event and highlights Bitcoin and gold as a long-term store of value. Dobson is also bullish on stablecoin and tokenization infrastructure.

  • Ether rose above $3,000 while Bitcoin traded near $92,000 and Solana gained.
  • Morgan Stanley filed S-1s for spot Bitcoin and Solana ETFs.
  • Banking groups urged senators to restrict stablecoin yield via market-structure legislation.
  • John Dagghastino said crypto is rebuilding after the October 10 liquidity event and sees Bitcoin/gold store-of-value appeal.
  • Brian Dobson expects Bitcoin miners' AI/HPC transition to show real contracts, revenue, and multiple expansion in 2026.
  • Clear Street named CleanSpark top 2026 pick; also likes Riot, Cipher Mining, Hut 8, and Bitfarms.
  • Clear Street has buy ratings on Bit Digital and White Fiber; sees data-contract prospects for White Fiber.
  • Dobson is bullish on stablecoin and tokenization infrastructure.
Ideas
John D'Agostino Coinbase Institutional 0:52
Bitcoin mean-reversion as liquidity rebuilds.
Bitcoin is outperforming gold this year, and together gold and Bitcoin offer a store of value. Over 10 years, gold is up 260%, the S&P is up about 300%, but the dollar has lost over a third of purchasing power, while Bitcoin is up over 11,000%; that extra return is important for beating inflation long term.
BTC GLD MED
Brian Dobson Managing Director, Senior Analyst at Clear Street 4:19
Miners' AI/HPC transition drives real results.
In 2026, Bitcoin miners transitioning to AI and HPC will shift from thematically driven performance to actual results. Companies will sign additional contracts, HPC revenue and cash flow will materialize on income statements, and multiples should expand; the setup moves from enthusiasm and hope to de-risked contractual revenue.
WGMI HIGH
Brian Dobson Managing Director, Senior Analyst at Clear Street 5:05
Bitfarms pivots megawatts to HPC.
Bitfarms is the most explicit miner winding down Bitcoin mining entirely to focus on AI infrastructure and HPC. Its megawatts are better suited for HPC, and it is abandoning Bitcoin mining ahead of the next halving event.
BITF MED
Brian Dobson Managing Director, Senior Analyst at Clear Street 6:40
CleanSpark top pick on HPC transition.
CleanSpark is Clear Street's top pick for 2026. It was among the last miners to declare its HPC transition and devote new megawatt monetization to HPC, trades at about 6x 2026 EBITDA, and has strong management, assets, power contracts, and a future megawatt pipeline. He expects it to become a successful HPC data center company, sign AI contracts in 2026, and drive multiple expansion first to 9x and later toward AI infrastructure peers in the high teens to low 20s; price target $27, about 120% above current levels.
CLSK HIGH
Brian Dobson Managing Director, Senior Analyst at Clear Street 8:28
Riot poised for HPC contracts.
He likes Riot, which is on the cusp of announcing contracts. Companies with strong track records of monetizing megawatts and producing results should sign or expand contracts by the end of Q1 2026.
RIOT MED
Brian Dobson Managing Director, Senior Analyst at Clear Street 8:30
Cipher has announced HPC contracts.
He likes Cipher, which has already announced contracts. Companies with strong track records of monetizing megawatts and producing results should expand existing contracts.
CIFR MED
Brian Dobson Managing Director, Senior Analyst at Clear Street 8:32
Hut 8 to sign HPC contracts.
He likes Hut 8 as part of the group of miners with strong track records of monetizing megawatts and producing results, expected to sign or expand HPC contracts by the end of Q1 2026.
HUT MED
Brian Dobson Managing Director, Senior Analyst at Clear Street 9:23
Bit Digital's Ethereum pivot works.
The pivot was savvy: it separated a struggling Bitcoin mining business from the data center business, which investors liked, and moved the mining business to Ethereum, an excellent move through the end of 2026 and into 2027. Doubts have been put to rest; Clear Street has a buy rating for the balance of the year.
BTBT HIGH
Brian Dobson Managing Director, Senior Analyst at Clear Street 9:23
White Fiber data contracts drive growth.
Clear Street has a buy rating for the balance of the year. White Fiber has new data contract prospects, including large-scale contracts in North Carolina and smaller-scale contracts in the Montreal area, which benefit from low-cost clean power in the Niagara Power Basin.
WYFI HIGH
Brian Dobson Managing Director, Senior Analyst at Clear Street 11:53
Stablecoin/tokenization on-ramps see adoption.
There is tremendous institutional demand for companies that provide the on-ramp for tokenization and stablecoins. Stablecoins make transferring assets easier and tokenization has similar appeal; any new technology that works and meets consumer needs should see widespread institutional adoption, and there is a land rush for these companies. Clear Street is bullish on the segment.
Stablecoin and tokenization infrastructure MED
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This CNBC video, published January 06, 2026, features John D'Agostino, Brian Dobson discussing BTC, GLD, WGMI, BITF, CLSK, RIOT, CIFR, HUT, BTBT, WYFI, Stablecoin and tokenization infrastructure. 10 trade ideas extracted by AI with direction and confidence scoring.

Speakers: John D'Agostino, Brian Dobson  · Tickers: BTC, GLD, WGMI, BITF, CLSK, RIOT, CIFR, HUT, BTBT, WYFI, Stablecoin and tokenization infrastructure