Morgan Stanley Adds $ETH and $SOL to Its Diet After $381M Bitcoin Appetizer 🍴

Morgan Stanley has rolled out exchange-traded products tracking ether ($ETH) and solana ($SOL) on NYSE Arca, expanding the Wall Street firm's digital asset lineup months after the debut of its spot bitcoin fund. The Morgan Stanley Ethereum Trust (MSSE) and Morgan Stanley Solana Trust (MSOL) began trading on Tuesday, with both funds available through the firm's roughly 16,000 financial advisors and E*TRADE platform.

The products track the CoinDesk Ether Benchmark 4PM NY Settlement Rate and the CoinDesk Solana Benchmark 4PM NY Settlement Rate, giving investors exposure to the two cryptocurrencies without requiring direct custody of the tokens. Each fund charges a 0.14% expense ratio — described by the firm as the lowest on the market — and both plan to stake a portion of their underlying holdings, with staking rewards passed through to investors.

"Digital assets are becoming an increasingly important component of diversified investment portfolios," Amy Oldenburg, head of digital asset strategy at Morgan Stanley, said in a press release. "As client interest in digital assets continues to grow, we're focused on providing a range of digital asset solutions that allow investors to diversify their portfolios across traditional and decentralized asset classes while also adhering to Morgan Stanley's standards for governance, infrastructure and risk management."

The launches follow the introduction earlier this year of the Morgan Stanley Bitcoin Trust (MSBT), which tracks the CoinDesk Bitcoin Benchmark Rate and had accumulated more than $381 million in assets under management as of July 16. The ether and solana products make Morgan Stanley the first U.S. bank-affiliated asset manager to issue such funds, according to the company.

The new solana product enters a market that already includes eight SOL ETFs listed by SoSoValue, with combined total net assets of $889.3 million. The ether and solana rollouts extend a wave of crypto ETF expansion in the United States that began with spot bitcoin funds in January 2024 and has since broadened into ether products and increasingly into solana offerings.