Morgan Stanley Investment Management has launched exchange-traded products tracking ether and solana, expanding a cryptocurrency product lineup that had been limited to bitcoin. Cointelegraph reported on July 28 that the new products are Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust.
The two products trade on NYSE Arca as MSSE and MSOL, respectively. They track ether and solana price movements based on the CoinDesk Ether Benchmark New York 4 p.m. settlement price and the CoinDesk Solana Benchmark New York 4 p.m. settlement price.
Morgan Stanley plans to stake some of the assets it holds and give the resulting rewards to investors. The company said it will not take staking rewards generated by the two funds separately.
The launch follows Morgan Stanley's move earlier this month to begin spot cryptocurrency trading on its E*TRADE platform. Qualified customers can buy, sell and hold bitcoin, ether and solana through a partnership with crypto infrastructure company Zero Hash.
Morgan Stanley previously launched the Morgan Stanley Bitcoin Trust in April.
Chi-gyu Hwang
delight@d-today.co.kr