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MSSE Morgan Stanley Ethereum Trust

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$25.55
+1.1% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

From its Jul 28, 2026 launch to Oct 28, 2026, MSSE returned 23.6%, against 23.4% for ether.

Why did MSSE return +23.6% against Ether’s +23.4%?What can MSSE’s first months tell me?What does MSSE cost to hold and to trade?
A spot Ether trust. It holds the coin and trades like a share.Morgan Stanley ↗Expense ratio 0.14%First traded Jul 28, 2026Benchmark EtherSEC filings ↗Every Morgan Stanley fund ETFIQ covers

Promise check: DeliveredOver the time since its launch to Oct 28, 2026, MSSE returned 23.6% against 23.4% for Ether. Before its 0.14% fee, it finished 0.16 points ahead of Ether.

Compare with…Trading costsPut to the committeeaskIQ about MSSEAdd to portfolioAlerts

MSSE risk and return scorecard

vs Ether

Not measured: no price history kept for MSSE.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

What you earned

MSSE −11.2%, Ether −11.3%: total return over one month to Oct 28, 2026.
MSSE−11.2%
Ether−11.3%
MSSE +25.7%, Ether +25.6%: total return over three months to Oct 28, 2026.
MSSE+25.7%
Ether+25.6%
MSSE +23.6%, Ether +23.4%: total return since launch to Oct 28, 2026.
MSSE+23.6%
Ether+23.4%
askIQ: why did MSSE return +23.6% against Ether’s +23.4%? ↗

What can be shown yet

First traded Jul 28, 2026
+23.6%
Total return, since launch, Jul 28, 2026
Report
+23.4%
Ether over the same days
Report
+0.2 pts
Difference against Ether, in percentage points
Report
66
Days it has traded
Report
MSSE has traded for 92 days. Numbers that need a year of prices are not shown yet.
Shown now
Sponsor’s fee0.14%
First tradedJul 28, 2026
Days it closed unchanged0
Price$25.5466
Not yet
One-year returnfrom Jul 28, 2027
Three-year returnfrom Jul 28, 2029
askIQ: what can MSSE’s first months tell me? ↗

More on MSSE

Every number below is on this page. Open what you need.

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Price since launch, Jul 28, 2026

$25.55+1.1%1 day, priceClose, Oct 28, 2026

Price only. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Last checked Oct 28, 2026. Report a data error

MSSE returns by window: total return, cash paid and price change
WindowTotal returnEtherDifference, percentage points
1M Sep 28 – Oct 28, 2026−11.2%−11.3%+0.1 pts
3M Jul 29 – Oct 28, 2026+25.7%+25.6%+0.1 pts
Since launch Jul 28 – Oct 28, 2026+23.6%+23.4%+0.2 pts

Total returns, distributions reinvested. Listed Jul 2026: no 6 months, year to date, 1 year and 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

Where every fund in this set sits

How much of what holding the coin gave did a holder of the fund keep?

Share of the coin's growth it kept
GSUI 75.3%XRPZ 98.9%GXRP 99.2%XRPC 99.2%TDOG 99.4%TOXR 99.5%GDOG 99.6%XRP 99.6%MSBT 99.8%SUIS 99.9%TSUI 100.2%ETHB 100.5%MSOL 100.8%TDOT 101.1%CLNK 101.4%GAVA 101.4%QSOL 101.8%BAVA 101.9%TSOL 102.2%VAVX 102.2%FSOL 103.9%VSOL 104.3%SOEZ 104.4%SOLC 104.8%MSSE 100.1%MSSE 100.1%75.3%104.8%
75.3% to 104.8% across 25

That is the share of the 25 spot crypto trusts listed less than a year sitting at or below MSSE.

Share of the coin's own price growth a holder kept; funds on different coins are ranked together. Where the fund sits in this set, not a rating. Do not average it with another category's score.

42.0
IQ Crypto ScoreETFIQ Coin Capture Score15th of 25 · Oct 28, 2026
2.0 · lowest of 25 spot crypto trusts listed less than a year98.0 · highest

How much of its coin's move it captured, after costs, ranked against 25 spot crypto trusts listed less than a year. 100 is best. How it is computed

MSSE kept 100.1% of what holding Ether gave over the same days.

share of the coin's growth it kept100.1% · 42nd pct
All 25 ranked by this score →

MSSE key stats

High since Jul 28, 2026, daily closes to Oct 28, 2026 (ETFIQ)$29.69 on Sep 21, 2026
Low since Jul 28, 2026, daily closes to Oct 28, 2026 (ETFIQ)$20.08 on Jul 31, 2026
Close on Oct 28, 2026, within that range (ETFIQ)$25.5466, 57% of the way from the low to the high
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Oct 28, 2026
Trading · MSSEas of Oct 28, 2026
·
Not scored0 of 6 measured · Oct 28, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

About MSSE

MSSE’s own filings say it does (424B3, Jul 23, 2026). It charges 0.14% and finished only −0.2% behind Ether, so staking covered about 0.3% of that fee over these days.
SponsorMorgan Stanley
HoldsEtherReport
Sponsor’s fee (424B3)0.14%
Stakingthe filings say the trust stakes
First tradedJul 28, 2026
Days traded66
Days it closed unchanged0
Quotedon an exchange, every trading day
Price$25.5466
Against Ether, same days0.2% ahead of
Reports to the SEC on10-K, not N-PORT
How we measure
Over the time since launch to Oct 28, 2026, Ether moved +23.4% and MSSE returned +23.6%. That leaves it 0.16 of a percentage point ahead. 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 number on this page the sponsor does not publish itself. MSSE charges 0.14% a year and finished 0.2% ahead of Ether, which a fee cannot do on its own. Ether is a proof of stake chain, so a fund holding it can stake. 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 Ether it custodies.
Fund closes and coin closes from Tiingo, read at the same two dates. ETFIQ calculation. Method
IQ Investment Committee on MSSE

12 seats on MSSE, as of Oct 28, 2026: 1 Supports, 4 Challenges, 6 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianDoes not apply
In the tradition ofRay DalioDalio-style All-WeatherNot enough data
In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingChallenges
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatSupports
Put MSSE to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about MSSE

Does MSSE track Ether?
Over the time since launch to Oct 28, 2026 it returned +23.6% against Ether’s +23.4%, which leaves it 0.16 of a percentage point ahead. That difference carries the fee, the custody cost and the market’s pricing of the shares, and ETFIQ computes it from the fund’s own closes and the coin’s own closes over the same two dates.
Does MSSE stake?
Ether is a proof of stake chain, so staking is possible. Whether this fund 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 MSSE?
Morgan Stanley Ethereum Trust, a spot Ether trust sponsored by Morgan Stanley, first traded Jul 28, 2026. It holds the coin through a custodian rather than futures on it or shares in companies that own it.
Sources and dates
Prices, MSSE and EtherPrices, Tiingo end of day ↗
Fee, 0.14%Sponsor’s fee, read from the 424B3 filed Jul 23, 2026 ↗
All fund filingsFilings on SEC EDGAR ↗
SourceStaking, read from the 424B3 filed Jul 23, 2026 ↗
IssuerMorgan Stanley website ↗
Sponsor’s fee, read from the 424B3 filed Jul 23, 2026 ↗
Staking, read from the 424B3 filed Jul 23, 2026 ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, MSSE, crypto ETFs, data as of Oct 28, 2026. https://etfiq.com/funds/msse

The tracking bar for MSSE, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Tracking difference
The fund’s total return minus the coin’s over exactly the same days, in percentage points. The fee, the custody cost, the creation and redemption friction and whatever the market paid for the shares, all of it, in one number.
Spot
The fund holds the coin itself, through a custodian, rather than futures on it or shares in companies that own it. Only spot funds are in this category; the others are measured where they belong.
Sponsor
Who runs the fund. Most spot crypto ETFs are 1933 Act trusts rather than registered investment companies, so they have a sponsor rather than an adviser, and file a 10-K rather than an N-PORT.
Thinly quoted
A fund whose price sat unchanged on more than one trading day in twenty. Its quoted return is what somebody paid on the days anyone traded, which is not the same thing as what the fund did, so ETFIQ shows it and does not rank it against funds that trade.
Staking
Only proof of stake coins can be staked, so it exists for ether and Solana funds and cannot exist for a bitcoin one. Where a fund stakes, the yield and the sponsor’s share of it are terms in its own filings.
Full definitions: crypto ETFs vocabulary page. →
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MSSE: MSSE since launch: fund +23.59%, Ether +23.43%, 0.16 pts ahead of Ether. Data to Oct 28, 2026.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/msse"><img src="https://etfiq.com/assistant/api/embed/crypto/msse.svg" alt="MSSE: MSSE since launch: fund +23.59%, Ether +23.43%, 0.16 pts ahead of Ether. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">MSSE: MSSE since launch: fund +23.59%, Ether +23.43%, 0.16 pts ahead of Ether. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/msse">ETFIQ</a></figcaption>
</figure>

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Snapshot, Oct 28, 2026. More on the tabs above.