Exchange traded funds (ETF’s) tied to digital currencies have gone through a wild stretch over the past year and a half. What began in January 2024 as a handful of spot Bitcoin funds has grown into an expanding shelf of products covering Ether, Solana, and other tokens, pulling in tens of billions of dollars from retail investors and large institutions alike.
By the end of 2025, global crypto ETPs held roughly $184 billion in combined assets. That figure had fallen to about $136 billion by May 2026 as a market wide drawdown of nearly 35% rattled holders, but analysts tracking the space still expect a rebound. One forecast from Bitfinex puts total crypto ETP assets at $400 billion by the end of 2026, double the levels seen earlier in the year, aided by expected interest rate cuts and a wave of new fund filings.
Institutional appetite has held up even through the rough patches. A December 2025 survey from State Street Investment Management found that 68% of institutional investors were already using Bitcoin ETFs or planning to add them soon. BlackRock, Inc. (NYSE: BLK) remains the largest name in the category through its iShares Bitcoin Trust, which holds tens of billions of dollars in assets, while newer funds tied to Ethereum and other tokens have steadily built their own followings.
Against that backdrop, Morgan Stanley (NYSE: MS) is adding to its own lineup of digital asset products. Morgan Stanley Investment Management, the firm’s asset management arm, has launched two new exchange traded products, the Morgan Stanley Ethereum Trust and the Morgan Stanley Solana Trust, both listed on NYSE Arca under the tickers MSSE and MSOL. The funds aim to track the price of ether and SOL, the native tokens behind the Ethereum and Solana blockchain networks.
The launch builds on the Morgan Stanley Bitcoin Trust, which debuted earlier in 2026 as the first cryptocurrency ETP from a U.S. bank affiliated asset manager. That fund had grown to more than $381 million in assets through July 16th. With the two additions, Morgan Stanley Investment Management now offers exposure to Bitcoin, Ether, and SOL, the three largest digital assets by market value.
Ally Wallace, who leads the firm’s ETF business, described the new funds as a natural next step for a product suite that has expanded steadily since the company entered the ETF market in 2023. Amy Oldenburg, who heads digital asset strategy at Morgan Stanley, framed the launch as part of a broader effort to give clients a way to diversify across both traditional and decentralized assets while sticking to the firm’s usual governance and risk standards.
Each new fund carries an expense ratio of 0.14%, in line with some of the lowest cost Bitcoin products already on the market. Both trusts also plan to stake a portion of their holdings to generate additional rewards, and the firm has said it will not keep any share of those rewards for itself, passing them along to fund holders instead.
The two funds are part of a broader lineup that has grown to more than $14 billion in assets across 22 products, spanning Calvert, Parametric, and Eaton Vance branded funds alongside the firm’s three digital asset trusts. That growth mirrors what has been happening across the wider crypto ETF market, where new products keep arriving even as prices swing sharply from one quarter to the next.
As with any crypto linked investment, these funds carry real risk. Morgan Stanley has been clear that an investment in any of its digital asset trusts could result in the loss of the entire amount invested, and it has urged prospective investors to read the fund prospectuses filed with the Securities and Exchange Commission before putting money in. Whether Ether and Solana funds can match the early momentum of Bitcoin products remains to be seen, but their arrival adds one more entry to a market that shows no sign of slowing down.
