Morgan Stanley's Solana Trust (MSOL) and Fidelity's Solana ETF (FSOL) moved in opposite directions this week, reflecting mixed investor sentiment in the broader category of US spot Solana exchange-traded products.
On October 8, 2026, MSOL recorded an inflow between $1.77 million and $1.8 million, bucking the trend as the wider Solana ETP cohort experienced approximately $25 million in outflows during the week. Fidelity's FSOL, meanwhile, logged a $1.8 million outflow, with reports indicating the fund sold SOL holdings.
MSOL, which launched on NYSE Arca in late July 2026, manages approximately $52 million in assets—smaller than some competitors like BSOL. To attract capital, Morgan Stanley positioned the fund with a 0.14% expense ratio and a staking rewards pass-through of up to 95% to investors.
Broader Market Context
The US spot Solana ETP category launched in May 2026 and has accumulated approximately $1.56 billion in net inflows since inception. As of mid-October 2026, the group held around $1.62 billion in net assets.
While the $1.8 million inflow into MSOL is meaningful relative to its roughly $52 million asset base, it represents a small portion of the category's total holdings. The approximately $25 million in weekly outflows suggests investors are adopting a cautious stance after a strong summer, though cumulative net inflows provide the category a substantial cushion.
