Just about a month after Wall Street banking giant Morgan Stanley made the grand debut of its Bitcoin ETF, the company is set to launch its Ethereum and Solana ETFs today.
A recent post from a Senior ETF Analyst, Eric Balchunas, confirmed the launch, describing them as the cheapest ETFs to launch in each category.
Morgan Stanley expands ETF products
Following recent filings from the firm, Morgan Stanley's Ethereum and Solana ETFs will both launch with a 0.14% fee each, making them the cheapest ETFs to ever list in both markets.
While the Ethereum Trust has been designed to track the price of Ether and earn staking rewards on a portion of the ETH held by the fund, its potential investors will be able to gain exposure to Ethereum's price while potentially benefiting from the network's staking yield.
The Morgan Stanley Solana ETF, on the other hand, aims to mimic Solana's performance by tracking the CoinDesk Solana Benchmark settlement rate.
As stated in its filings, the Solana Fund will invest directly in SOL, offering investors direct exposure to the asset without holding it themselves.
While both ETFs are set to launch today, they would enter the market with 50,000 shares outstanding and initial assets of just over $1 million each.
Dan Burgin
U.Today Editorial Team
