Morgan Stanley Lists ETH and SOL ETPs With Staking Pass-Through at 0.14% Fee
MSSE and MSOL track CoinDesk’s 4PM NY settlement-rate benchmarks and extend the bank’s crypto lineup beyond MSBT.
Morgan Stanley Investment Management launched two NYSE Arca-listed exchange-traded products offering Ether and Solana exposure with a stated plan to pass staking rewards through to investors. The products land alongside the firm’s expanding crypto distribution push, including spot trading on E*TRADE for eligible clients via Zero Hash.
Key Takeaways
- Morgan Stanley Investment Management launched the Morgan Stanley Ethereum Trust (MSSE) and Morgan Stanley Solana Trust (MSOL) on NYSE Arca.
- The products are designed to track ETH and SOL using CoinDesk’s 4PM New York settlement-rate benchmarks for each asset.
- Both trusts list with a 0.14% expense ratio, setting a low, explicit cost line for bank-branded listed crypto exposure.
- Each fund intends to stake a portion of holdings and pass staking rewards through to investors, with the firm stating it will not retain any portion of those rewards.
Morgan Stanley Lists MSSE and MSOL on NYSE Arca
Morgan Stanley Investment Management has listed two new crypto-linked exchange-traded products on NYSE Arca: the Morgan Stanley Ethereum Trust (ticker: MSSE) and the Morgan Stanley Solana Trust (ticker: MSOL).
The mandate is straightforward. MSSE seeks to track Ether (ETH) and MSOL seeks to track Solana (SOL). For traders, the significance is less about novelty and more about distribution. A major US bank is adding more regulated wrappers for spot-linked exposure, widening the menu for allocators who prefer exchange-listed vehicles over direct custody.
Fees, Benchmarks, and the Staking Pass-Through Design
Both products carry a 0.14% expense ratio. That fee matters because it becomes the cleanest, easiest comparison point across regulated wrappers. Over time, expense ratios are a structural drag on returns, and 0.14% sets a clear benchmark for anyone pricing the convenience of a listed product against alternatives.
For tracking, MSSE references the CoinDesk Ether Benchmark 4PM NY Settlement Rate and MSOL references the CoinDesk Solana Benchmark 4PM NY Settlement Rate. The 4 p.m. New York settlement-rate design is aimed at giving a consistent reference price for measurement and operational processes.
The differentiator is staking yield. Both funds intend to stake a portion of their holdings and pass staking rewards through to investors. Morgan Stanley’s stated policy is explicit: “Morgan Stanley said it will not retain any portion of the staking rewards earned by either fund.” In a market where fee compression is relentless, the fight shifts to who can deliver net yield inside the wrapper without adding hidden skims.
From MSBT to E*TRADE: Morgan Stanley’s Crypto Distribution Stack
The launch extends a broader buildout rather than a one-off product drop. Earlier in July 2026, Morgan Stanley rolled out spot crypto trading on E*TRADE for eligible clients, enabling buy, sell, and hold access to Bitcoin, Ether, and Solana via a partnership with Zero Hash.
On the listed-product side, Morgan Stanley launched the Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT) in April 2026 and described it as the first major US commercial bank to offer a spot Bitcoin ETF. As of July 16, MSBT had more than $381 million in assets under management. That number is now the closest reference point for how quickly MSSE and MSOL could scale if the bank’s distribution channels convert interest into flows.
Open Questions: How Much Gets Staked and How Rewards Reach Holders
The market-moving details are still missing. The disclosures provided do not specify what portion of MSSE or MSOL holdings will be staked, or which staking providers or validators will be used.
Mechanics matter as much as intent. Traders will want clarity on how staking rewards show up for holders: the timing of distributions, whether any operational costs are netted before rewards hit performance, and whether rewards are reflected directly in NAV or via another accounting path.
Early AUM and flow updates will also be the first real signal of adoption. MSBT’s reported $381 million-plus AUM provides a yardstick, but MSSE and MSOL will need visible traction to prove that staking-enabled listed exposure is more than a marketing line.
Staking Yield Inside a Listed Wrapper Is the New Battleground
I treat the 0.14% fee and the “we won’t retain staking rewards” language as the tell. Morgan Stanley is signaling that plain beta exposure is already commoditized, so the next edge is net yield delivered through a regulated wrapper without frictions that quietly eat the carry.
The threshold that matters is whether the staking pass-through becomes measurable in performance and scalable in AUM. If the staking allocation, counterparties, and reward mechanics come through with clean implementation, the setup starts to look structural rather than narrative-driven, because it changes how allocators compare listed ETH and SOL exposure on a net-return basis.
