Morgan Stanley's new Solana ETF is already carrying the whole field

One day after listing on NYSE Arca, @MorganStanley's spot Solana ETF pulled in $19.06M in net inflows, accounting for every dollar flowing into US spot $SOL products on Wednesday. Every other issuer in the category sat flat, according to SoSoValue data.

Lowest fee, full staking

The fund trades under the ticker MSOL and charges a 0.14% annual management fee, placing it among the lowest-cost US crypto exchange-traded products currently on the market. Beyond price, the structure stands out for what it does with the underlying tokens. The MSOL prospectus targets staking up to 100% of the fund's SOL holdings, routed through three delegated providers: Figment, Galaxy Digital, and Coinbase Canada. 95% of those network rewards are distributed back to shareholders.

Morgan Stanley becomes the first US bank-affiliated asset manager to issue Ethereum and Solana funds. The bank officially classifies MSOL as an exchange-traded product rather than an ETF, but the practical difference for most investors is minimal. Like spot crypto ETFs, it holds digital assets and allows investors to gain price exposure through traditional brokerage accounts without managing wallets or private keys.

Where the broader Solana ETF market stands

The category MSOL is entering has been building steadily since its launch. US spot Solana ETFs have accumulated more than $1 billion in cumulative net inflows since their launch on October 28, 2025, per data tracked by SoSoValue. Per the original source data, the funds now hold $862.98M in assets against $1.15B in cumulative inflows.

Every US trading session in July has closed with net inflows into Solana spot ETFs, a streak that has run while SOL trades approximately 57% below where it was priced when those funds launched last October. That resilience matters as context for what Morgan Stanley is stepping into. A wirehouse of this size bringing MSOL into its distribution network adds meaningful institutional reach to a category that has until now been dominated by specialist crypto asset managers.

Whether MSOL sustains its early lead or simply benefits from first-mover curiosity will become clearer over the coming weeks. For now, the numbers from day one suggest it has at least captured the market's attention.

Sources:
Crypto.news: Morgan Stanley launches ETH and Solana ETFs at 0.14%
Solana Compass: US Solana ETFs log positive inflows every July trading day
ETF Trends: Morgan Stanley expands crypto ETF suite with Ethereum and Solana trusts