Morgan Stanley Disrupts Crypto Fund Pricing Logic with Low-Fee ETF Launch
Morgan Stanley has launched two spot ETFs for Ethereum and Solana, marking its aggressive entry into the competitive crypto fund arena. The firm aims to reshape industry pricing logic with a comprehensive expense ratio of 0.14% and a full staking yield retention mechanism.
The Morgan Stanley Ethereum Trust (MSSE) opened at approximately $20 per share on the NYSE Arca, trading 933,700 shares on its first day with a net inflow of $5.15 million. This accounted for over one-third of the total inflows into Ethereum-related funds in the United States, outpacing BlackRock's staking-enabled ETHB fund, which attracted $5.9 million in inflows.
In contrast, the Morgan Stanley Solana Trust (MSOL) opened at a similar price but failed to attract new capital, despite trading 951,200 shares with a volume of about $19 million. The Solana sector as a whole saw investors redeeming Bitwise's BSOL fund, leading to a net outflow of $18.1 million from mainstream Solana funds overall.