Data as of .
BSOL vs MSOL: which tracked its coin?
Over the window both share, BSOL finished 0.15 of a percentage point behind Solana and MSOL 0.15 behind.
ETFIQ Coin Capture Score: BSOL scores higher
How much of what holding the coin gave did a holder of the fund keep?
A percentile among the 28 spot crypto ETPs listed less than a year. It is a position in a set, not a rating, and neither end of it is a recommendation. All crypto ETFs ranked by it · How it is computed
The same coin, two trusts
BSOL and MSOL hold the same asset. Both are 1933 Act trusts holding Solana through a custodian, so neither has a portfolio to compare: the whole of each fund is one line. Over the days each has traded, BSOL finished 4.1% ahead of Solana once both returns are compounded and MSOL 0.75 of a percentage point behind, but the two windows are not the same days, so neither figure is set against the other here. That gap is the fee, the custody, the creation and redemption friction and the market’s pricing of the shares, compounded into one figure. BSOL has 273 more days of record than MSOL, and a longer record is a longer window over which a cost can show itself.
Performance, window by window
| Window | Total return | The coin over the same days | Difference, percentage points | |||
|---|---|---|---|---|---|---|
| BSOL | MSOL | BSOL | MSOL | BSOL | MSOL | |
| 1 month | +35.4% | +35.4% | +35.6% | +35.6% | −0.1 pts | −0.1 pts |
| 3 months | +55.0% | not published | +53.4% | not published | +1.6 pts | not published |
| 6 months | +18.1% | not published | +16.1% | not published | +1.9 pts | not published |
| Since each listed | −45.1% | +38.1% | −47.3% | +38.9% | +4.1% of its growth | −0.8 pts |
| BSOL Bitwise Solana Staking ETF Holds Solana through a custodian, listed Oct 28, 2025 | MSOL Morgan Stanley Solana Trust Holds Solana through a custodian, listed Jul 28, 2026 | |
|---|---|---|
| Sponsor | Bitwise | Morgan Stanley |
| Holds | Solana | Solana |
| Net assets | $592m, balance sheet of Jun 30, 2026 | not read |
| Sponsor’s fee | 0.20% | 0.14% |
| Fee waiver | the whole fee, until January 27, 2026 | none |
| Staking | the filings say it does | the filings say it does |
| Listed | Oct 28, 2025 | Jul 28, 2026 |
| Days since listing | 318 days | 45 days |
| Days it has traded | 219 | 33 |
| Days it closed unchanged | 2 | 0 |
| Quoted | on an exchange, every trading day | on an exchange, every trading day |
| Fund returned, 1 year or since launch | −45.1% | +38.1% |
| The coin over the same days | −47.3% | +38.9% |
| Difference, percentage points | +4.1% of its growth | −0.8 pts |
| Fund returned since it listed | −45.1% | +38.1% |
| Difference since it listed | +4.1% of its growth | −0.8 pts |
| Price | $14.03 | $27.7247 |
BSOL in plain words
BSOL holds Solana through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since it listed to Sep 11, 2026, Solana moved −47.3% and BSOL returned −45.1%. That leaves it 4.1% ahead once both returns are compounded. Over a window this long the two returns cannot simply be subtracted. Doing it would read +2.2 pts, which is arithmetically correct and describes nothing a holder can act on: what the figure above states is the gap between the two growth factors, so a fund that kept 104% of what holding the coin gave says exactly that. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks, and whatever the market paid for the shares rather than for the coin, all of it together. It is the only figure on this page the sponsor does not publish itself. BSOL charges 0.20% a year and still finished 4.1% ahead of Solana, which a fee cannot do on its own. Solana is a proof of stake chain, so a fund holding it can stake. BSOL’s own filings say it does (10-Q, Aug 7, 2026). What the prices show is that it finished 4.1% ahead of Solana’s own price over the same days, against +2.9% for the other 8 funds holding Solana. After a fee, an in-kind ETP ahead of the asset it holds got there by staking. A spot trust is not a registered investment company. It files a 10-K rather than an N-PORT, and its holding is one line: the Solana it custodies.
MSOL in plain words
MSOL holds Solana through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since it listed to Sep 11, 2026, Solana moved +38.9% and MSOL returned +38.1%. That leaves it 0.75 of a percentage point behind. MSOL charges 0.14% a year and finished 0.8% behind Solana, so the fee is less than the whole difference and the rest is what the market paid for the shares, which moved against holders. MSOL’s own filings say it does (424B3, Jul 23, 2026). Over the window ETFIQ measures it did not finish ahead of Solana’s own price, so whatever it earned did not cover its costs.
Questions people ask
- Which tracked Solana more closely, BSOL or MSOL?
- Over the days each has traded, BSOL finished 4.1% ahead of Solana once both returns are compounded and MSOL 0.75 of a percentage point behind. Those are not set against each other here, because the two windows are not the same days, so neither is nearer its coin than the other on this page. Each difference carries the fee, the custody cost, the friction of creating and redeeming shares in blocks and whatever the market paid for the shares rather than for the coin.
- Do BSOL or MSOL pay a staking yield?
- Solana is a proof of stake chain, so staking is possible. Whether either trust stakes, and what the sponsor keeps of it, is a term in its own filings and is read from those rather than assumed.
- What is the difference between BSOL and MSOL?
- Both hold Solana through a custodian and both trade on an exchange, so what separates them is what each costs a holder over time. BSOL is sponsored by Bitwise and listed Oct 28, 2025; MSOL by Morgan Stanley, listed Jul 28, 2026.
- Which is cheaper, BSOL or MSOL?
- BSOL charges 0.20% a year and MSOL charges 0.14%, so MSOL is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BSOL against MSOL, data as of Sep 11, 2026. https://etfiq.com/compare/crypto/BSOL-MSOL Free to use with attribution; the underlying files are at Open data.