Morgan Stanley Files Amended ETH and SOL ETF Registrations at Market-Low 0.14% Fees

Morgan Stanley filed amended registration statements for spot Ethereum and Solana exchange-traded funds on Thursday, signaling progress on both applications and setting fees that would be the lowest in either market.

The bank submitted second-amended S-1 statements to the SEC for the two funds, which it first filed in January. The filings disclosed 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, according to SoSoValue data. Repeated amendments typically reflect active back-and-forth with the SEC and forward movement toward launch.

This story is an excerpt from the Unchained Daily newsletter.

Both funds plan to stake a portion of their holdings to generate additional rewards, an increasingly common feature as issuers compete on more than fees. 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. The Ethereum fund is expected to trade under the ticker MSSE and the Solana fund under MSOL.

The amendments extend a crypto buildout that Morgan Stanley began with bitcoin. The bank’s spot bitcoin fund, MSBT, launched in April at the same 0.14% fee, undercutting established competitors including BlackRock’s IBIT, and has since drawn roughly $300.7 million in cumulative net inflows as of June 18.

Applying the same rock-bottom pricing to ether and Solana suggests Morgan Stanley intends to compete primarily on cost, leaning on its large wealth-management and advisory network to channel client assets into its own products rather than rivals’. If approved, the funds would extend the bank’s reach across the three largest assets with US spot ETFs.