Morgan Stanley Adds Ethereum and Solana to Cryptocurrency ETP Lineup
Morgan Stanley Investment Management has expanded its cryptocurrency exchange-traded product (ETP) lineup beyond Bitcoin. The firm has launched two new spot ETPs tied to Ethereum and Solana, allowing investors to track the price movements of these assets on the NYSE Arca.
The Morgan Stanley Ethereum Trust (MSSE) and Morgan Stanley Solana Trust (MSOL) were listed on July 28, 2023. These products track the native tokens of the respective blockchains, ETH for Ethereum and SOL for Solana.
Morgan Stanley's move is part of a broader effort to meet investor demand for cryptocurrency ETPs. The firm launched its first crypto ETP, the Morgan Stanley Bitcoin Trust (MSBT), earlier this year, which had over $381 million in assets under management as of July 16, 2023.
The expansion of Morgan Stanley's crypto ETP lineup is significant, as it provides investors with more options for accessing these emerging assets. However, it's worth noting that the launch of these products does not necessarily imply a bullish sentiment on the part of the firm or its investors.