Morgan Stanley’s MSOL draws inflows as Fidelity’s FSOL sheds $1.8 million

Morgan Stanley’s Solana Trust (MSOL) attracted fresh capital during a week when the broader U.S. spot Solana exchange-traded product market recorded approximately $25 million in outflows. Fidelity’s FSOL, meanwhile, moved in the opposite direction, reporting a $1.8 million redemption in a single session.

The flow data

On October 8, 2026, MSOL recorded an inflow estimated between $1.77 million and $1.8 million. The fund’s activity stood out because it came during a period of withdrawals across the wider Solana ETP category.

Fidelity’s FSOL registered an outflow of approximately $1.8 million during October, consistent with reports that the asset manager sold SOL through the fund. The research indicates that FSOL has experienced intermittent redemptions rather than one isolated decline.

The contrasting flows show that institutional exposure to the same underlying asset is not moving uniformly. Investors may be reallocating between products, responding to differences in fees and staking economics, or taking a more selective approach as the broader market cools.

MSOL enters a competitive market

MSOL remains a smaller product by assets under management. The fund oversees approximately $52 million, trailing competitors such as BSOL, despite attracting meaningful capital relative to its own size.

Morgan Stanley listed MSOL on NYSE Arca in late July 2026, after rival Solana products had already established a lead in assets. To compete, the fund has emphasized two features:

• A 0.14% expense ratio, positioning MSOL as a low-cost option.
• Pass-through of up to 95% of staking rewards to investors.

An inflow of roughly $1.8 million represents a notable addition for a fund with about $52 million in assets. Relative to the full category, however, the amount remains small: Solana ETPs collectively held approximately $1.62 billion in net assets as of mid-October.

The group launched in May 2026 and has since accumulated approximately $1.56 billion in cumulative net inflows, giving the market a substantial cushion despite the recent weekly withdrawals.

What This Means

MSOL’s inflow suggests that product structure can still attract capital even when investors are reducing exposure across the wider Solana ETP market. Low fees and a high staking-reward pass-through may be helping Morgan Stanley differentiate its newer offering.

At the same time, the category’s approximately $25 million in weekly outflows signals a more cautious near-term environment after a strong summer. The flows do not yet erase the sector’s sizable cumulative gains, but they indicate that institutional demand may be entering a wait-and-see phase, with fund-level performance becoming increasingly important.