Morgan Stanley Lists Ethereum, Solana ETPs in Crypto Push
Summary
- Morgan Stanley listed Ethereum (ETH) and Solana (SOL) exchange-traded products, or ETPs, on NYSE Arca.
- The two products track the CoinDesk Ethereum Benchmark and the CoinDesk Solana Benchmark, respectively, and carry a 0.14% annual management fee, with staking rewards passed on to investors.
- Morgan Stanley said assets under management in the Morgan Stanley Bitcoin Trust (MSBT) ETF, launched in April, have surpassed $380 million, following the start of spot cryptocurrency trading services on its E*Trade platform earlier this month.
Forecast Trend Report by Period
Morgan Stanley has launched exchange-traded products tied to Ethereum and Solana.
Cointelegraph reported on July 28 that the bank listed the Morgan Stanley Ethereum Trust, or MSSE, and the Morgan Stanley Solana Trust, or MSOL, on NYSE Arca. The products track the CoinDesk Ethereum Benchmark and the CoinDesk Solana Benchmark, respectively.
Both funds carry an annual management fee of 0.14%. A portion of the assets will be used for staking, and all staking rewards will be passed on to investors.
The listing follows Morgan Stanley's move earlier this month to begin offering spot cryptocurrency trading on its ETrade platform. Working with crypto infrastructure firm Zero Hash, ETrade offers trading and custody services for Bitcoin, Ethereum and Solana.
Morgan Stanley in April launched the Morgan Stanley Bitcoin Trust, or MSBT, becoming the first major US commercial bank to roll out a spot Bitcoin exchange-traded fund. Assets under management in the ETF recently exceeded $380 million.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul