Morgan Stanley is using $7.4 trillion in client assets and rock-bottom fees to hijack Wall Street’s crypto boom

Morgan Stanley’s new Ethereum and Solana exchange-traded products generated roughly $38 million in combined trading volume on their first day, giving the Wall Street firm an immediate presence in two crypto fund markets dominated by earlier entrants.The Morgan Stanley Ethereum Trust (MSSE) recorded 933,715 shares traded Tuesday and attracted $5.15 million of net inflows. The Morgan Stanley Solana Trust (MSOL) traded 951,216 shares, producing roughly $19 million of turnover but no net creations. Each product began trading on NYSE Arca at around $20 per share.Data from SoSoValue shows that the MSSE’s inflows represented more than a third of the roughly $14.5 million that entered US ETH funds during the session. BlackRock’s staking-enabled ETHB drew $5.9 million, and its larger ETHA product added $3.5 million.Morgan Stanley Ethereum Fund Debut Performance (Source: SoSoValue)Meanwhile, the Solana market moved in the opposite direction, with the existing fund group losing $18.1 million as investors pulled the entire amount from Bitwise’s BSOL.The contrasting debuts provide an early test of how much market share Morgan Stanley can capture after entering both categories late. MSSE convert...