Morgan Stanley Enters Spot Crypto Market with Solana ETF
Morgan Stanley has entered the spot crypto ETF market with the launch of the Morgan Stanley Solana Trust (NYSEARCA:MSOL), a fund that holds actual Solana tokens. This is the firm's first exchange-traded product tied directly to a single cryptocurrency, and it arrives at a moment when Solana, the blockchain once best known for hosting meme coins, is trying to sell itself to Wall Street as serious financial infrastructure.
The trust charges a unitary Delegated Sponsor Fee accrued daily at an annualized rate of 0.14% of the Trust's net asset value, or about $14 a year on a $10,000 investment. Morgan Stanley Investment Management Inc. agrees to pay the trust's ordinary operating expenses out of that fee, excluding taxes and extraordinary or litigation expenses.
The fund is designed for investors who want exposure to Solana's price inside a traditional brokerage account and are comfortable with its volatility. SOL is down 40.68% year to date and off 59.69% over the past year, trading near $74.05. Over five years, however, the token is still up 135.77%.