Morgan Stanley launches Ethereum and Solana crypto ETPs on NYSE Arca

Morgan Stanley’s new Ethereum- and Solana-linked exchange-traded products generated roughly $38 million in combined first-day trading volume, giving the Wall Street firm an immediate foothold in two U.S. crypto fund markets led by earlier entrants. The Morgan Stanley Ethereum Trust, or MSSE, traded 933,715 shares, attracted $5.15 million of net inflows and accounted for more than a third of the roughly $14.5 million that entered U.S. ETH funds during the session. The Morgan Stanley Solana Trust, or MSOL, traded 951,216 shares for about $19 million of turnover but recorded no net creations, while the broader Solana fund group posted $18.1 million of net outflows as investors pulled the full amount from Bitwise’s BSOL. Both products began trading on NYSE Arca at about $20 per share after launching July 28 as an extension of Morgan Stanley Investment Management’s crypto lineup, which began with the Morgan Stanley Bitcoin Trust in April and had accumulated more than $400 million in assets as of press time. MSSE and MSOL each charge a 0.14% annual sponsor fee, while Morgan Stanley takes no direct share of staking rewards and custodians and staking providers are expected to receive an aggregate 5% of gross rewards. MSSE plans under normal market conditions to stake between 50% and 80% of its Ethereum holdings, while MSOL intends to stake as much as 100% of its SOL, subject to liquidity needs. Monthly cash distributions of net staking rewards, but at least quarterly, are intended to give investors exposure to staking income through brokerage accounts without holding tokens directly. The fee and staking structure undercuts several rivals, though BlackRock temporarily offers a lower headline ETHB fee through a waiver, and incumbents including Bitwise and BlackRock still hold much larger asset bases and trading histories. Bloomberg Intelligence analyst Eric Balchunas said Morgan Stanley’s size and distribution reach make the listings the most significant additions to the ETH and Solana ETF markets since their initial launch.