Key Takeaways
- • Morgan Stanley Investment Management launched two new cryptocurrency exchange-traded products—Morgan Stanley Ethereum Trust (MSSE) and Morgan Stanley Solana Trust (MSOL)—both trading on NYSE Arca with a competitive 0.14% expense ratio.
- • Galaxy provides staking infrastructure for both ETPs, enabling MSSE to stake between 50–80% of ether holdings and MSOL to stake up to 100% of SOL holdings, with all staking rewards passed directly to investors and none retained by Morgan Stanley.
- • The MSSE and MSOL launches extend Morgan Stanley's digital asset product suite, which now spans bitcoin, ether, and SOL—the three largest cryptocurrencies by market capitalization—following the earlier 2026 launch of Morgan Stanley Bitcoin Trust (MSBT), which held $381 million in assets under management as of mid-July 2026.
- • Morgan Stanley Investment Management's total ETP assets under management exceed $14 billion, reflecting organic growth since the firm's initial ETF launch in 2023 and demonstrating institutional appetite for regulated digital asset exposure.
Summary
Morgan Stanley Investment Management has entered the Ethereum and Solana markets with the launch of two new exchange-traded products, MSSE and MSOL, both listed on NYSE Arca. The products track the performance of ether and SOL, the native digital assets of their respective blockchain networks, and represent a strategic expansion of the firm's cryptocurrency ETP offering. Galaxy has been selected to provide staking infrastructure for both products, enabling investors to earn staking rewards while maintaining exposure to these assets.
The ETPs feature a 0.14% expense ratio, positioning Morgan Stanley competitively within the emerging digital asset ETP space. Critically, both products intend to stake a portion of their holdings: MSSE will stake between 50% and 80% of its ether holdings, while MSOL can stake up to 100% of its SOL holdings. All staking rewards generated by either product will be passed through to investors; Morgan Stanley will retain no portion of these rewards for itself. This structure aligns the fund sponsor's incentives with investor returns and differentiates the offering in a market where fee structures and reward distribution remain highly variable.
The launch of MSSE and MSOL follows Morgan Stanley Bitcoin Trust (MSBT), which became the first cryptocurrency ETP offered by a U.S. bank-affiliated asset manager earlier in 2026. MSBT has accumulated more than $381 million in assets under management as of July 16, 2026, demonstrating institutional demand for bank-affiliated cryptocurrency products. With these three launches, Morgan Stanley now offers exposure to the three largest cryptocurrencies by market capitalization.
The expansion reflects Morgan Stanley Investment Management's broader growth trajectory in the ETP space. The firm's total ETP assets under management exceed $14 billion, up significantly since its initial ETF launch in 2023. Ally Wallace, Global Head of ETFs for Morgan Stanley Investment Management, characterized the launches as reflecting "the natural evolution of our product suite" and a commitment to providing "simplified access to digital assets through the ETP wrapper." Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, noted that "digital assets are becoming an increasingly important component of diversified investment portfolios," signaling institutional recognition of cryptocurrency's evolving role in multi-asset allocation.
The ETPs feature a 0.14% expense ratio, positioning Morgan Stanley competitively within the emerging digital asset ETP space. Critically, both products intend to stake a portion of their holdings: MSSE will stake between 50% and 80% of its ether holdings, while MSOL can stake up to 100% of its SOL holdings. All staking rewards generated by either product will be passed through to investors; Morgan Stanley will retain no portion of these rewards for itself. This structure aligns the fund sponsor's incentives with investor returns and differentiates the offering in a market where fee structures and reward distribution remain highly variable.
The launch of MSSE and MSOL follows Morgan Stanley Bitcoin Trust (MSBT), which became the first cryptocurrency ETP offered by a U.S. bank-affiliated asset manager earlier in 2026. MSBT has accumulated more than $381 million in assets under management as of July 16, 2026, demonstrating institutional demand for bank-affiliated cryptocurrency products. With these three launches, Morgan Stanley now offers exposure to the three largest cryptocurrencies by market capitalization.
The expansion reflects Morgan Stanley Investment Management's broader growth trajectory in the ETP space. The firm's total ETP assets under management exceed $14 billion, up significantly since its initial ETF launch in 2023. Ally Wallace, Global Head of ETFs for Morgan Stanley Investment Management, characterized the launches as reflecting "the natural evolution of our product suite" and a commitment to providing "simplified access to digital assets through the ETP wrapper." Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, noted that "digital assets are becoming an increasingly important component of diversified investment portfolios," signaling institutional recognition of cryptocurrency's evolving role in multi-asset allocation.
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