Morgan Stanley Broadens Crypto Offering With Ethereum, Solana ETPs

Morgan Stanley Investment Management has expanded its cryptocurrency fund lineup beyond Bitcoin with the launch of exchange-traded products linked to Ether and Solana.

Cointelegraph reported on July 28 that Morgan Stanley listed the Morgan Stanley Ethereum Trust, or MSSE, and the Morgan Stanley Solana Trust, or MSOL, on NYSE Arca. The two funds track CoinDesk’s 4 p.m. New York benchmark prices for Ether and Solana.

Both products carry an annual management fee of 0.14% and pass through all staking income to investors by staking a portion of their holdings. Morgan Stanley said it will not retain any of that staking revenue.

The launch follows Morgan Stanley’s move earlier in July to start offering spot cryptocurrency trading on its E*TRADE platform. Through a partnership with crypto infrastructure provider Zero Hash, the service provides eligible clients with trading and custody for Bitcoin, Ether and Solana.

Morgan Stanley launched the Morgan Stanley Bitcoin Trust, or MSBT, in April, becoming the first major U.S. commercial bank to introduce a spot Bitcoin ETF. As of July 16, MSBT had more than $381 million in assets under management.