Morgan Stanley debuts Ethereum and Solana ETFs with market's lowest fee, staking rewards

On Tuesday, Morgan Stanley launched the firm's spot Ethereum and Solana exchange-traded funds, each of which carries the lowest fee in the market.

Both the ETH- and SOL-based funds charge a 0.14% sponsor fee, lower than Grayscale's Mini Ethereum Trust that charges 0.15% and Franklin Templeton's Solana ETF, which costs 0.19%, according to data from SoSoValue.

The firm's Ethereum fund trades under the ticker symbol (MSSE) on the New York Stock Exchange, while the Solana fund trades are identified as (MSOL).

Bloomberg Senior ETF Analyst Eric Balchunas noted that Morgan Stanley's bitcoin-based spot ETF has brought in approximately $400 million in four months despite launching in a bearish market.

"Since introducing our first ETFs in 2023, we've built a diversified suite of ETFs and ETPs that now exceed $14 billion in assets under management," Morgan Stanley's Global Head of ETFs Ally Wallace said in a statement. "The addition of MSSE and MSOL reflects the natural evolution of our product suite, which seeks to provide simplified access to digital assets through the ETP wrapper."

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Morgan Stanley also said it will stake a share of the funds' ETH and SOL holdings to earn staking rewards. 

The Wall Street giant's launch of its Solana and Ethereum products comes roughly two and a half years after BlackRock, Fidelity, and other firms launched the first U.S.-based, spot bitcoin ETFs. Other firms have since launched altcoin ETFs tied to tokens like XRP and HYPE.

As of a week ago, Solana and Hyperliquid ETFs combined to account for nearly 80% of non-BTC and ETH ETF volume. Solana ETFs, cumulatively, had over $90o million AUM.

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