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We study approximation properties of multi-resolution analyses in the context of matrix-valued function spaces. Here, we generalize the notions of approximation order and density order given by the reference [de Boor C, DeVore RA, Ron A. Approximation from shift-invariant subspaces of L 2 (R d). Trans Am Math Soc. 1994;341(2):787–806]. Indeed, we prove a characterization of the closed subspaces generated by the shifts of a single matrix-valued function that provide approximation order and/or density order α ≥ 0. To give our conditions, we need the classical notion of approximate continuity. As a consequence, we prove necessary and sufficient conditions on a matrix-valued function to be a scaling function in a multi-resolution analysis. [ABSTRACT FROM AUTHOR]