After Bitcoin Success, Morgan Stanley Bets Bigger On Ethereum And Solana ETFs

Morgan Stanley (MS) Investment Management announced on Tuesday that it expanded its digital asset suite beyond Bitcoin (BTC) for the first time, launching two new exchange-traded products that track Ethereum (ETH) and Solana (SOL). and  began trading on the New York Stock Exchange (NYSE) Arca. Both products were registered with the US Securities and Exchange Commission (SEC) with prospectuses filed under Form 424B3. Both trusts have named Bank of New York Mellon (BNY) and Coinbase (COIN) Custody Trust Company as trustees.Bitcoin Trust Set The TemplateThe launches followed  in April, which the firm had described as the first cryptocurrency ETP offered by a US bank-affiliated asset manager. Morgan Stanley’s Bitcoin ETF To Launch On Wednesday With Lowest Fee In MarketMSBT gathered more than $381 million in assets under management (AUM), providing the institutional validation that preceded the Ethereum and Solana expansions.MSBT stock was down over 1% during mid-morning trade. On Stocktwits, the retail sentiment around MSBT moved to ‘neutral’ from ‘bullish’ zone while chatter around it stayed at ‘high’ levels over the past day.Why It MattersMorgan Stanley’s venture into Ethereum and Solana ETPs shows a major expansion of bank-affiliated crypto product offerings beyond Bitcoin.Morgan Stanley's bank-affiliated structure means its products have been differentiated from those of independent asset managers and perhaps gives the former a different distribution channel into the company's brokerage and wealth management network, as spot Bitcoin ETFs from managers like BlackRock (BLK) and Fidelity have captured the biggest share of institutional inflows.Solana’s price was trading around $74, down 1.6% in the last 24 hours. It was among the top trending tickers on Stocktwits. Retail sentiment around SOL dropped to ‘bearish’ from the ‘neutral’ zone, while chatter stayed at 'normal’ levels over the past day.Ethereum’s price was trading around $1,916, down 1.5% in the last 24 hours. The leading altcoin was also among the top trending tickers on Stockwits. Retail sentiment around ETH remained in the ‘bullish’ zone, while chatter stayed at 'normal’ levels over the past day.