Morgan Stanley Solana Trust (MSOL) is a spot exchange traded product sponsored by Morgan Stanley Investment Management that holds SOL directly and began trading on NYSE Arca on July 28, 2026. Structured as a trust rather than a registered fund, it aims to track the price of Solana in US dollars while also passing through staking income, since the sponsor plans to stake up to 100% of the trust's SOL holdings.

Solana is a high throughput blockchain used heavily for decentralized finance, payments, and tokenized asset trading, and it has become one of the largest networks by market capitalization. Because Solana runs on proof of stake, validators earn network rewards, and the trust's staking program is designed to capture that yield, estimated around 3.4% annually, with 95% of rewards passed to shareholders after custodian and staking provider fees.

The trust is not registered under the Investment Company Act of 1940 and operates as a passive vehicle that does not use leverage or derivatives. The Bank of New York Mellon and Coinbase Custody Trust Company serve as joint custodians of the trust's SOL, with Coinbase also facilitating the staking arrangements. MSOL carries a 0.14% annual sponsor fee, among the lowest in the spot Solana ETF category. Investors should weigh SOL's price volatility and the fact that staking rewards are variable and not guaranteed.