Morgan Stanley Enters Crypto Staking ETP Market With Lower Fees
Morgan Stanley Investment Management (MSIM) has launched two new crypto exchange-traded products (ETPs), the Morgan Stanley Ethereum Trust (MSSE) and the Morgan Stanley Solana Trust (MSOL). These ETPs track the CoinDesk Ether Benchmark and CoinDesk Solana Benchmark 4pm New York settlement rates, respectively. MSIM's global head of ETFs, Ally Wallace, stated that the addition of these products reflects 'the natural evolution' of their product suite.
The launch follows the success of Morgan Stanley's Bitcoin Trust (MSBT), which debuted earlier this year and holds over $381 million in assets as of July 16. MSSE and MSOL carry a 0.14% expense ratio, with all staking rewards passed through to shareholders without any retention by MSIM.
Other ETPs, such as Bitwise's staked Solana ETF (BSOL) and Grayscale's Solana Trust ETF (GSOL), have already gained significant traction in the market. However, Morgan Stanley's entry into this category is notable due to its brand recognition among wealth managers and its price positioning of 0.14% expense ratio.