MSBT vs. TSOL

Last updated Jun 23, 2026

MSBT (Morgan Stanley Bitcoin Trust) and TSOL (21Shares Solana ETF) are both Cryptocurrency funds. MSBT is passively managed, while TSOL is actively managed. Their correlation of 0.82 suggests significant overlap in exposure. MSBT charges 0.14%/yr vs 0.21%/yr for TSOL.

Performance

MSBT vs. TSOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Bitcoin Trust (MSBT) and 21Shares Solana ETF (TSOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSBT

• 1D: 2.44%
• 1M: -14.96%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSOL

• 1D: 4.77%
• 1M: -14.06%
• YTD: -40.91%
• 6M: -40.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MSBT vs. TSOL - Yearly Performance Comparison

	2026 (YTD)
MSBT Morgan Stanley Bitcoin Trust	-11.15%
TSOL 21Shares Solana ETF	-10.56%

Correlation

The correlation between MSBT and TSOL is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026	0.82

Return for Risk

MSBT vs. TSOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Bitcoin Trust (MSBT) and 21Shares Solana ETF (TSOL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

MSBT vs. TSOL - Drawdown Comparison

The maximum MSBT drawdown since its inception was -26.46%, smaller than the maximum TSOL drawdown of -56.62%. Use the drawdown chart below to compare losses from any high point for MSBT and TSOL.

Drawdown Indicators

	MSBT	TSOL	Difference
Max Drawdown Largest peak-to-trough decline	-26.46%	-56.62%	+30.16%
Current Drawdown Current decline from peak	-21.40%	-50.26%	+28.86%
Average Drawdown Average peak-to-trough decline	-8.18%	-31.13%	+22.95%

Volatility

Volatility by Period

	MSBT	TSOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	36.79%	73.03%	-36.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.79%	73.03%	-36.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.79%	73.03%	-36.24%

MSBT vs. TSOL - Expense Ratio Comparison

MSBT has a 0.14% expense ratio, which is lower than TSOL's 0.21% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MSBT vs. TSOL - Dividend Comparison

MSBT has not paid dividends to shareholders, while TSOL's dividend yield for the trailing twelve months is around 4.73%.

Position	TTM
MSBT Morgan Stanley Bitcoin Trust	0.00%
TSOL 21Shares Solana ETF	4.73%

Frequently Asked Questions

Can I hold both MSBT and TSOL in my portfolio?

MSBT and TSOL have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSBT or TSOL?

On fees, MSBT is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSBT or TSOL?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.21% for TSOL.

Which ETF pays a higher dividend yield, MSBT or TSOL?

TSOL has the higher dividend yield at 4.73%, compared with 0.00% for MSBT.

What is the main difference between MSBT and TSOL?

They also come from different issuers: Morgan Stanley and 21Shares. Their fees differ too: 0.14% for MSBT and 0.21% for TSOL.