Morgan Stanley Investment Management has launched exchange-traded products tracking Ether and Solana, taking its fund lineup beyond Bitcoin. Both trusts charge a 0.14% expense ratio and intend to stake part of their holdings, with the rewards passed through to investors.
Morgan Stanley Investment Management has launched Ether and Solana exchange-traded products, expanding its fund lineup beyond Bitcoin. The two funds trade on NYSE Arca as the Morgan Stanley Ethereum Trust (MSSE) and Morgan Stanley Solana Trust (MSOL).
Staking rewards go to investors in full
The trusts seek to track the performance of Ether and Solana using the CoinDesk Ether Benchmark 4PM NY Settlement Rate and CoinDesk Solana Benchmark 4PM NY Settlement Rate, respectively. Both 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.
The launch follows a spot crypto rollout at E*TRADE
Before this, the firm rolled out spot cryptocurrency trading 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.
That followed April’s launch of the Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT), which made the firm the first major US commercial bank to offer a spot Bitcoin ETF. The Bitcoin fund held more than $381 million in assets under management as of July 16, according to the company.
Source: Cointelegraph.com News
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