Morgan Stanley Launches Ethereum and Solana ETPs Amid Crypto Expansion

Morgan Stanley has continued its expansion into cryptocurrency markets by launching two new exchange-traded products (ETPs) that track Ether and Solana. The Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and Morgan Stanley Solana Trust (NYSE Arca: MSOL) use the CoinDesk Ether Benchmark 4PM NY Settlement Rate and CoinDesk Solana Benchmark 4PM NY Settlement Rate to track the performance of the respective assets.

The funds have a 0.14% expense ratio and aim to stake a portion of their holdings, with staking rewards passed through to investors. Morgan Stanley emphasized that it will not retain any portion of the staking rewards earned by either fund.

This move follows Morgan Stanley's recent rollout of spot cryptocurrency trading on its E*TRADE platform, which allows eligible clients to buy, sell and hold Bitcoin, Ether, and Solana. The launch also builds on the success of the firm's earlier Bitcoin fund, the Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT), which had more than $381 million in assets under management as of July 16.