Morgan Stanley Expands Crypto Product Range with Ether and Solana Funds
Morgan Stanley Investment Management has expanded its cryptocurrency product range by launching exchange-traded products tied to Ether and Solana. The new funds, Ethereum Trust (MSSE) and Solana Trust (MSOL), are listed on NYSE Arca and track CoinDesk's Ether and Solana benchmarks.
The expense ratio for both new ETPs is 0.14%, and Morgan Stanley will pass all staking rewards to investors without retaining any share. This approach differs from some other crypto funds, which often retain a portion of the rewards.
The launch follows Morgan Stanley's rollout of spot cryptocurrency trading on its E*TRADE platform earlier this month through a partnership with crypto infrastructure provider Zero Hash. Eligible clients can buy, sell, and hold Bitcoin, Ether, and Solana through that service.
Morgan Stanley's Bitcoin Trust (MSBT), launched in April, held over $381 million in assets under management as of July 16, demonstrating the bank's growing position in the listed crypto investment market.