Morgan Stanley's MSOL and MSSE Draw $33M in Second-Day Inflows, MSSE Outpaces BlackRock's ETHA

Morgan Stanley's staked Ethereum and Solana SOL$99.74-1.8% ETPs drew a combined $33.06 million in net inflows on July 30, their second day of trading on NYSE Arca. The Morgan Stanley Ethereum Trust (MSSE) recorded $14.03 million and the Morgan Stanley Solana Trust (MSOL) drew $19.03 million, per SoSoValue flow data. MSSE finished ahead of BlackRock's iShares Ethereum Trust (ETHA) on the day, with the broader US Ethereum ETF sector posting roughly $19 million in net outflows.

MSOL's $19.03 million was the full US Solana ETF net inflow total for July 30. The eight competing funds recorded no net new capital that session. These results build on the July 28 launch, when both products opened at the lowest expense ratios in their respective categories.

MSSE Outpaces BlackRock ETHA as Ethereum (ETH) ETF Sector Posts Net Outflows

ETHA has led the US Ethereum (WETH) ETF market for most of the category's history. On July 30, with the sector recording roughly $19 million in net outflows, MSSE's $14.03 million inflow gave it a higher single-day intake than ETHA. US Ethereum ETFs have accumulated $11.19 billion in total net inflows since the category launched, per SoSoValue. Bloomberg Intelligence ETF analyst Eric Balchunas described the Morgan Stanley launches as the most significant new entries into their respective categories since the first wave of launches, per CryptoSlate's reporting.

MSOL Captures All US Solana ETF Flows on Day Two

On MSOL's second trading day, the US Solana (SOL) ETF sector produced $19.03 million in total net inflows, all of which went to MSOL. Competitors including Bitwise's BSOL, which holds roughly $418 million in assets under management, and REX-Osprey's SSK, with approximately $90 million in AUM, recorded zero net inflows that session, per Blockhead's reporting. The Solana ETF category has drawn cumulative inflows exceeding $1.1 billion since its May 2026 debut, per SoSoValue.

The combined AUM for MSSE and MSOL reached approximately $20 million after two trading days, per SoSoValue, against a Solana ETF field where the eight competing products held roughly $842 million in assets before MSOL's arrival, per Blockhead's reporting.

0.14% Fee Versus Grayscale's 0.35% Plus a Staking Cut

Both MSSE and MSOL carry a 0.14% annual expense ratio, the lowest published fee in each US ETF category. The competitive gap is most pronounced against Grayscale, whose Solana Trust (GSOL) charges a 0.35% base fee and retains 23% of staking rewards before any distribution to shareholders, according to Blockhead. Morgan Stanley's structure passes approximately 95% of staking yields to shareholders after validator and operational costs, with no percentage cut taken before distribution.

Morgan Stanley's Bitcoin Trust (MSBT), launched earlier in 2026, had accumulated approximately $381 million in AUM as of July 16, per Blockhead, offering a reference point for how the firm's distribution channel has translated early inflows into sustained assets for a prior crypto product.

Figment Handles Staking; Products Track CoinDesk Benchmarks

Figment is the institutional staking provider for both MSSE and MSOL. After validator fees and operational costs, approximately 95% of protocol staking rewards flow to shareholders, per FinanceFeeds. MSSE tracks the CoinDesk Ether Benchmark 4PM NY and MSOL tracks the CoinDesk Solana Benchmark 4PM NY for pricing. Staking participation remains at the discretion of the fund sponsor and is subject to regulatory considerations.

Morgan Stanley's Adviser Network as the Structural Edge

The early inflow lead reflects a distribution structure that differs from most crypto ETF sponsors. Morgan Stanley gives roughly 16,000 financial advisers access to both products alongside E*TRADE's self-directed retail platform, within an investment management arm overseeing approximately $2 trillion in assets, according to CryptoSlate. Most other crypto ETF issuers, including BlackRock and Bitwise, distribute through third-party brokerage and advisory channels. Morgan Stanley's products are accessible directly through its own adviser workforce and retail platform from day one, a structural difference that shows up in flow data before the broader market has time to adopt a new product.