Ethereum

SOL ETF

Solana

<p><a href="https://x.com/MorganStanley" rel="noopener noreferrer nofollow">@MorganStanley</a> has filed second-amended S-1 registration statements with the SEC for two spot crypto funds: the Morgan Stanley Ethereum Trust (ticker MSSE) and the Morgan Stanley Solana Trust (ticker MSOL). The headline detail is price. <cite>The filings disclose sponsor fees of 0.14% for both, a level that would undercut the current cheapest options in each category: Grayscale's Mini Ethereum Trust at 0.15% for ether and Franklin Templeton's SOEZ at 0.19% for Solana.</cite></p>
<p><cite>Both the Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust would charge a 0.14% annual sponsor fee, calculated daily based on each fund's net asset value and paid monthly.</cite></p>
<h2 id="staking-rewards-built-in">Staking rewards built in</h2>
<p>Competing on fees alone is not the full story. <cite>Both funds would stake portions of their underlying crypto holdings to generate additional income for investors.</cite><cite>The Solana filing and its Ethereum counterpart name Figment, Galaxy Blockchain Infrastructure, and Coinbase Canada as staking service providers, with a 5% staking fee allotted to providers and custodians.</cite> The remaining 95% of staking rewards flows back into the trusts, directly benefiting shareholders.</p>
<p><cite>Repeated amendments typically reflect active back-and-forth with the SEC and forward movement toward launch.</cite><cite>The filings remain under SEC review and do not include a firm launch date.</cite></p>
<h2 id="building-on-a-bitcoin-playbook">Building on a Bitcoin playbook</h2>
<p>The move follows a familiar pattern for Morgan Stanley. <cite>Its Morgan Stanley Bitcoin Trust (MSBT), filed around the same time as the ETH and SOL applications, successfully launched in April, benefiting from its 0.14% sponsor fee that undercut established spot bitcoin funds.</cite><cite>As of June 18, MSBT has drawn in $300.7 million in cumulative net inflows.</cite></p>
<p><cite>The filings arrive during a wider expansion of crypto ETF activity in the United States, with the SEC recently approving T. Rowe Price's multi-asset crypto ETF, which can include Bitcoin, Ethereum, Solana, XRP, Dogecoin, Shiba Inu, and up to 15 digital assets.</cite> Traditional finance firms are now competing more directly with one another, and Morgan Stanley's fee-first strategy on ethereum:native and solana:So11111111111111111111111111111111111111112 products signals it intends to apply the same pressure it exerted in the Bitcoin ETF market.</p>
<p><strong>Sources</strong><br><a href="https://unchainedcrypto.com/morgan-stanley-files-amended-eth-and-sol-etf-registrations-at-market-low-0-14-fees/" rel="noopener noreferrer nofollow">Unchained Crypto: Morgan Stanley Files Amended ETH and SOL ETF Registrations at Market-Low 0.14% Fees</a><br><a href="https://www.theblock.co/post/405362/morgan-stanley-eth-sol-etf-amendments" rel="noopener noreferrer nofollow">The Block: Morgan Stanley files amendments for ETH and SOL ETFs, revealing lowest fees in market</a><br><a href="https://coinpaper.com/32061/morgan-stanley-files-new-amendments-for-eth-and-sol-etfs" rel="noopener noreferrer nofollow">CoinPaper: Morgan Stanley Files New Amendments for ETH and SOL ETFs</a></p>

Morgan Stanley is trying to win the ETH and Solana ETF race on price

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