CryptoSlate
Morgan Stanley's spot Ethereum and Solana ETFs pulled in $33 million combined on their second trading day, with the Ethereum Trust (MSSE) drawing $14.03 million and the Solana Trust (MSOL) taking $19.03 million, per SoSoValue data. MSSE alone outpaced BlackRock's ETHA on the session, even as the broader spot Ethereum ETF category posted roughly $19 million in net outflows. MSOL, only two days into trading, captured every dollar flowing into US Solana ETFs during the day. Combined assets under management for the pair now sit at $20 million, a modest start that follows a debut Tuesday session generating about $38 million in trading volume.
Why it matters
Bloomberg ETF analyst Eric Balchunas called MSSE and MSOL the most consequential entries into their respective categories since the first wave of spot launches, and the reason is distribution rather than headline AUM. Morgan Stanley commands roughly 16,000 financial advisers, an investment-management arm overseeing about $2 trillion, and the E*TRADE self-directed channel, a reach crypto-native issuers like Bitwise, Grayscale, VanEck and 21Shares cannot match at the adviser and high-net-worth tier. The firm is also price-aggressive: both funds carry a 0.14% expense ratio near the bottom of each category, and both are structured to stake a portion of holdings and pass staking rewards to shareholders, layering yield on top of price exposure in a way most rival products do not. The Ethereum ETF complex has now absorbed $11.19 billion in cumulative net inflows since launch, while Solana's eight competing funds hold roughly $842 million in combined assets, so MSSE and MSOL are entering two very different stages of market maturity.
Market impact
Day-2 inflows are a cleaner read on demand than launch-day volume, which counts secondary trading rather than new capital. The fact that MSOL single-handedly absorbed all US Solana ETF inflows on its second day, while MSSE beat ETHA on a day the category bled, is an early signal that Morgan Stanley's broker channel is converting rather than just churning.
Frequently asked questions
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What are MSSE and MSOL?
MSSE is the ticker for Morgan Stanley's spot Ethereum ETF, and MSOL is the ticker for its spot Solana ETF. Both launched this week and carry a 0.14% expense ratio, with a portion of holdings structured to stake and pass rewards to shareholders.
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How much did the Morgan Stanley ETFs raise on day two?
Combined day-two inflows reached $33 million, with MSSE taking $14.03 million and MSOL taking $19.03 million, according to SoSoValue. The pair now manages roughly $20 million in combined assets after a debut Tuesday session that generated about $38 million in trading volume.
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Did Morgan Stanley's Ethereum ETF beat BlackRock's ETHA?
Yes. MSSE outpaced BlackRock's ETHA on net inflows during the session, even though the broader spot Ethereum ETF category posted roughly $19 million in net outflows that day. Cumulative inflows into US spot Ethereum ETFs since launch stand at $11.19 billion.
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Why are these launches considered significant?
Bloomberg ETF analyst Eric Balchunas called them the most consequential entries since the first wave of spot crypto ETF launches, citing Morgan Stanley's roughly 16,000 financial advisers, its $2 trillion investment-management arm, and the E*TRADE self-directed channel as distribution advantages crypto-native issuers…
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Do the Morgan Stanley ETFs offer staking rewards?
Yes. Both MSSE and MSOL are structured to stake a portion of their holdings and distribute the resulting rewards to shareholders, layering yield on top of direct Ethereum and Solana price exposure, a feature most rival spot ETFs in these categories do not yet offer.
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