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Morgan Stanley launches Ethereum and Solana ETPs on NYSE Arca

The new trusts track Ether and Solana, charge a 0.14% expense ratio, and plan to stake part of holdings with rewards passed to investors.

Reported · Written up by our desk · Market Structure

Morgan Stanley Investment Management has launched exchange-traded products for Ether and Solana, extending its crypto lineup beyond its spot Bitcoin offering earlier this year, Cointelegraph reports. The new funds trade on NYSE Arca as the Morgan Stanley Ethereum Trust (MSSE) and the Morgan Stanley Solana Trust (MSOL).

MSSE is designed to track Ether performance using the CoinDesk Ether Benchmark 4PM NY Settlement Rate, while MSOL tracks Solana using the CoinDesk Solana Benchmark 4PM NY Settlement Rate, according to Cointelegraph. Both trusts carry a 0.14% expense ratio.

Morgan Stanley also said the funds intend to stake a portion of their holdings, with staking rewards passed through to investors and the firm not retaining any portion of the rewards, the outlet added. The launches come after Morgan Stanley rolled out spot crypto trading on its E*TRADE platform earlier in the month for eligible clients, allowing buys, sells, and holding of Bitcoin, Ether, and Solana via a partnership with Zero Hash.

Cointelegraph noted the move follows Morgan Stanley’s April launch of the Morgan Stanley Bitcoin Trust (MSBT), which it said made it the first major US commercial bank to offer a spot Bitcoin ETF. The Bitcoin trust had more than $381 million in assets under management as of July 16, according to the company.

Latest closeBitcoin $63,547.54 ▼0.3%|Ethereum $1,904.60 ▲0.7%|Solana $73.25 ▼1.2%

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