Morgan Stanley Investment Management launched the Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust , two exchange-traded products (ETPs), on July 28, 2026, expanding a digital asset lineup that began with its Bitcoin Trust earlier this year.
Key Takeaways
- Morgan Stanley Investment Management launched the Ethereum Trust (MSSE) and Solana Trust (MSOL) on NYSE Arca on July 28, 2026.
- MSSE and MSOL each carry a 0.14% expense ratio and plan to stake part of their ether or SOL holdings for rewards.
- Morgan Stanley Bitcoin Trust (MSBT), launched earlier this year, was the first crypto ETP from a U.S. bank-affiliated asset manager.
- Ally Wallace, MSIM’s Global Head of ETFs, said the firm’s ETF and ETP suite now exceeds $14 billion in assets under management.
- MSIM will not keep any portion of the staking rewards earned by MSSE or MSOL for itself, the company said.
Morgan Stanley Rounds Out Its Crypto ETP Lineup
Morgan Stanley Investment Management (MSIM) confirmed the listings in a same-day announcement, giving the firm ETPs tied to bitcoin, ether, and SOL, three of the largest digital assets by market capitalization. MSSE tracks the CoinDesk Ether Benchmark, and MSOL tracks the CoinDesk Solana Benchmark, both on the 4PM NY Settlement Rate, according to the trusts’ SEC prospectus filings.
Morgan Stanley Bitcoin Trust (MSBT), the first cryptocurrency ETP offered by a U.S. bank-affiliated asset manager, launched earlier this year and holds more than $381 million in assets under management through July 16, 2026. The announcement did not disclose initial seed assets for MSSE or MSOL, leaving their starting scale relative to MSBT unknown.
Ally Wallace, Global Head of ETFs for Morgan Stanley Investment Management said:
The 0.14% Fee Undercuts Grayscale’s Ether Product
Bitcoin. Ethereum. Solana. @MorganStanley now has a bank-backed ETP for all three, each at a flat 0.14% fee. The crypto shelf on Wall Street just got bigger. pic.twitter.com/c8kePWWEh9
— CoinLaw (@coinlaw_io) July 28, 2026
MSIM set a 0.14% expense ratio for both new trusts, the same fee it charged for MSBT. That rate undercuts Grayscale’s comparable ether product, which charges 0.15%, according to the trusts’ amended SEC registration statements filed earlier this month.
Those filings set staking ranges for each trust: MSSE may stake 50% to 80% of its ether holdings, and MSOL may stake up to 100% of its SOL holdings. Staking providers and custodians retain 5% of any rewards, and the remaining 95% accrues to each trust. The firm can distribute both products through its network of 19,000 financial advisers.
Crypto ETP Field Gets More Crowded
Morgan Stanley enters a market where competing issuers already have scale. BlackRock’s spot ether ETF, ETHA, holds approximately $17 billion in assets, and BlackRock has separately filed for a staked version, ETHB, that would stake 70% to 90% of its ether holdings, according to BlackRock’s staked ether ETF filing.
Solana ETFs from other issuers had already drawn cumulative inflows above $900 million since their respective launches through February 2026, per Solana ETF inflow data. That existing demand shows Solana ETFs already had investor traction before MSOL’s listing.
Implications for Bank-Affiliated Crypto Products
The expansion makes MSIM the only U.S. bank affiliated asset manager offering ETPs across bitcoin, ether, and SOL at once, a position that could push peer wealth managers to move faster on their own filings. MSBT’s asset growth since launch gives MSIM a track record it lacked when first seeking approval, which may ease distribution of MSSE and MSOL through its adviser network.
Amy Oldenburg, Morgan Stanley’s Head of Digital Asset Strategy, framed the launch as part of a push to let clients diversify across traditional and decentralized assets while meeting the firm’s governance, infrastructure, and risk management standards. Prospectuses for each trust still warn that slashing penalties and validator failures could cause a complete loss of staked assets. Broader appetite for that trade-off is already documented: 86% of institutional investors surveyed by EY-Parthenon and Coinbase in 2025 reported digital asset exposure or allocation plans, per institutional adoption research.
Investors already holding MSBT, or evaluating MSSE and MSOL, can check each trust’s specific staking and liquidity policy in its prospectus. Activation and exit queues on the Ethereum and Solana networks determine how much of a trust’s holdings are actually earning rewards at any given time.
CoinLaw’s Takeaway
The launch closes a gap between Morgan Stanley’s product shelf and where institutional demand already sits. Advisers who wanted diversified digital asset exposure through a single bank-affiliated custody chain previously had to split allocations across a bitcoin trust and separate issuers’ ether or Solana products. MSSE and MSOL let them source all three from one delegated sponsor, with staking rewards designed to accrue to the trust rather than to Morgan Stanley.
The 0.14% fee matters as much as the ticker symbols. Pricing both new trusts below Grayscale’s comparable ether product signals Morgan Stanley is competing on cost inside its own bank distribution channel instead of trying to out market pure play crypto issuers. The unresolved variable is staking mechanics: activation and exit queues on the Ethereum and Solana networks cap how much of each trust’s holdings can earn rewards at any moment, and that constraint will shape the funds’ effective yield regardless of how much of Morgan Stanley’s broader ETF and ETP suite ends up allocated to digital assets.
