Morgan Stanley Investment Management has launched Ether and Solana exchange-traded products, expanding its fund lineup beyond Bitcoin.<\/p>\n
The Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and Morgan Stanley Solana Trust (NYSE Arca: MSOL) seek to track the performance of Ether (ETH) and Solana (SOL), respectively, using the CoinDesk Ether Benchmark 4PM NY Settlement Rate and CoinDesk Solana Benchmark 4PM NY Settlement Rate.<\/p>\n
Both funds carry a 0.14% expense ratio and intend to stake a portion of their holdings, with staking rewards passed through to investors. Morgan Stanley said it will not retain any portion of the staking rewards earned by either fund.<\/p>\n
The launch follows Morgan Stanley\u2019s rollout of spot cryptocurrency trading<\/a> on its E*TRADE platform earlier this month, allowing eligible clients to buy, sell and hold Bitcoin, Ether and Solana through a partnership with crypto infrastructure provider Zero Hash.<\/p>\n In April, Morgan Stanley launched the Morgan Stanley Bitcoin Trust<\/a> (NYSE Arca: MSBT), becoming the first major US commercial bank to offer a spot Bitcoin ETF. The fund had more than $381 million in assets under management as of July 16, according to the company.<\/p>\n Magazine: <\/strong><\/em>Here\u2019s why the CLARITY Act\u2019s ethics deal may be so hard to reach<\/strong><\/em><\/a><\/p>\n