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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corp., Series 2025 A</title>
        <cusip>64542UHD9</cusip>
        <identifiers>
          <isin value="US64542UHD90"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>759456.09000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Chicago IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>City of Chicago IL, Series 2024 A</title>
        <cusip>167486T33</cusip>
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          <isin value="US167486T338"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>410058.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iowa Finance Authority</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>Iowa Finance Authority, Series 2024 A</title>
        <cusip>46247SFV1</cusip>
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          <isin value="US46247SFV16"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>485836.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority, Series 2025 C</title>
        <cusip>74439YGC9</cusip>
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          <isin value="US74439YGC93"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>507076.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>West Virginia Economic Development Authority</name>
        <lei>549300WW88TKKF5H1220</lei>
        <title>West Virginia Economic Development Authority, Series 2025</title>
        <cusip>95648VBU2</cusip>
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          <isin value="US95648VBU26"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>768256.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Industrial Development Authority of the City of Phoenix Arizona (The)</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>Industrial Development Authority of the City of Phoenix Arizona (The), Series 2014 B</title>
        <cusip>71884SAC4</cusip>
        <identifiers>
          <isin value="US71884SAC44"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.49999960</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission, Series 2025</title>
        <cusip>93978LHX7</cusip>
        <identifiers>
          <isin value="US93978LHX73"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>469702.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., Series 2024</title>
        <cusip>650116HQ2</cusip>
        <identifiers>
          <isin value="US650116HQ22"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>413208.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles CA, Series 2025 A</title>
        <cusip>5444453A5</cusip>
        <identifiers>
          <isin value="US5444453A52"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>523170.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
        <title>Capital Trust Authority, Series 2025 A</title>
        <cusip>14054WBQ7</cusip>
        <identifiers>
          <isin value="US14054WBQ78"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>481997.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Series 2021 A</title>
        <cusip>13057GAD1</cusip>
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          <isin value="US13057GAD16"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>375111.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Antonio Education Facilities Corp.</name>
        <lei>N/A</lei>
        <title>San Antonio Education Facilities Corp., Series 2025</title>
        <cusip>796247EY6</cusip>
        <identifiers>
          <isin value="US796247EY69"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>465892.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Denton TX</name>
        <lei>N/A</lei>
        <title>County of Denton TX, Series 2025</title>
        <cusip>24880GAN9</cusip>
        <identifiers>
          <isin value="US24880GAN97"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>493459.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Beaufort-Jasper Water &amp; Sewer Authority</name>
        <lei>N/A</lei>
        <title>Beaufort-Jasper Water &amp; Sewer Authority, Series 2025 A</title>
        <cusip>074358HT2</cusip>
        <identifiers>
          <isin value="US074358HT29"/>
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        <balance>460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>431842.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mobile County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Mobile County Industrial Development Authority, Series 2024 A</title>
        <cusip>60733UAA9</cusip>
        <identifiers>
          <isin value="US60733UAA97"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>395898.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Series 2021 A</title>
        <cusip>04052BMR2</cusip>
        <identifiers>
          <isin value="US04052BMR23"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>192706.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>New York City Municipal Water Finance Authority</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>New York City Municipal Water Finance Authority, Series 2022 DD</title>
        <cusip>64972GZW7</cusip>
        <identifiers>
          <isin value="US64972GZW76"/>
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        <balance>410000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>410000.00000000</valUSD>
        <pctVal>1.971905042431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vermont Economic Development Authority</name>
        <lei>N/A</lei>
        <title>Vermont Economic Development Authority, Series 2022 A-2</title>
        <cusip>924157AD2</cusip>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JQH13"/>
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          <maturityDt>2051-07-01</maturityDt>
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        <name>Iowa Higher Education Loan Authority</name>
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        <name>Maryland Health &amp; Higher Educational Facilities Authority</name>
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          <maturityDt>2041-07-01</maturityDt>
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      <invstOrSec>
        <name>City of Valparaiso IN</name>
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          <maturityDt>2054-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>District of Columbia</name>
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        <name>BlackRock Liquidity Funds - MuniCash</name>
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        <issuerCat>RF</issuerCat>
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        <name>City of West Haven CT</name>
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          <maturityDt>2045-03-15</maturityDt>
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      <invstOrSec>
        <name>Jefferson County Port Authority/OH</name>
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          <isin value="US473318AA12"/>
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          <maturityDt>2051-12-01</maturityDt>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>St Louis County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Development Authority of Burke County (The)</name>
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          <maturityDt>2049-07-01</maturityDt>
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        <name>Chicago Board of Education</name>
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          <maturityDt>2047-12-01</maturityDt>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Stamford Housing Authority</name>
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        <name>Public Finance Authority</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>City of Hot Springs AR Wastewater Revenue</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-01</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Houston TX Airport System Revenue</name>
        <lei>N/A</lei>
        <title>City of Houston TX, Series 2024 B</title>
        <cusip>442349HX7</cusip>
        <identifiers>
          <isin value="US442349HX73"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>525561.45000000</valUSD>
        <pctVal>2.527700666738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chisholm Creek Utility Authority</name>
        <lei>N/A</lei>
        <title>Chisholm Creek Utility Authority, Series 2025</title>
        <cusip>170123EF6</cusip>
        <identifiers>
          <isin value="US170123EF69"/>
        </identifiers>
        <balance>530000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>490863.21000000</valUSD>
        <pctVal>2.360818631568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Morgan Stanley ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Francis J. Smith</ncom:signature>
      <ncom:signerName>Francis J. Smith</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
