Morgan Stanley debuts cheapest Ethereum and Solana ETFs

Morgan Stanley Investment Management has launched spot Ethereum and Solana exchange traded products that integrate staking from their first day of trading. The Morgan Stanley Ethereum Trust, trading under MSSE, and Morgan Stanley Solana Trust, trading under MSOL, began trading today on NYSE Arca. Both funds charge an expense ratio of 0.14%, making them the cheapest products in their respective categories, according to Bloomberg ETF analyst Eric Balchunas. The funds seek to track the prices of Ethereum and Solana through CoinDesk benchmark rates while staking a portion of their underlying assets to generate additional rewards. MSSE generally intends to stake between 50% and 80% of its Ethereum holdings. MSOL may stake up to 100% of its Solana holdings, although the proportions may change over time. Morgan Stanley expects approximately 95% of the staking rewards to pass through to shareholders. The asset manager said it will not retain any portion of the rewards for itself. Figment, an institutional staking infrastructure provider, was selected to operate the validators and manage staking for both funds. The companies said the products are the first spot Ethereum and Solana ETPs from...