Morgan Stanley has submitted updated registration documents for proposed Ethereum and Solana exchange-traded funds, bringing both products closer to a potential market launch. Bloomberg ETF analyst James Seyffart reported that the funds will trade under the tickers MSSE and MSOL and carry management fees of 0.14%.
The proposed pricing would place both funds among the lowest-cost crypto ETFs available to U.S. investors. Fees have become an important competitive tool in the digital asset fund market, where large issuers can use their distribution networks and scale to attract assets even when products track the same underlying cryptocurrency.
The amended filings also indicate that the funds are expected to incorporate staking. That feature could allow the products to earn blockchain rewards on part of their Ethereum and Solana holdings, potentially improving returns compared with funds that only track spot prices. The final structure will depend on regulatory approval and the operational rules described in the filings.
Staking Could Differentiate the New Funds
Staking has become one of the most important issues in the next phase of crypto ETF development. Ethereum and Solana use proof-of-stake systems in which token holders can help secure their networks and receive rewards. An ETF that passes some of that income to shareholders may offer a more complete form of exposure than a product that leaves the assets idle.
The model also introduces additional risks. Fund managers must address validator selection, custody, liquidity, slashing penalties, tax treatment, and the time required to withdraw staked assets. Regulators will also need confidence that staking arrangements do not interfere with daily creations and redemptions or expose investors to undisclosed counterparties.
Morgan Stanley’s 0.14% fee suggests the bank intends to compete aggressively for institutional and wealth-management assets. The firm has one of the largest financial advisory networks in the United States, giving it a distribution advantage if the products are approved for use across brokerage and managed accounts.
Wall Street Expands Beyond Bitcoin ETFs
The updated applications reflect a broader shift among traditional financial institutions. After the success of spot Bitcoin ETFs, asset managers and banks have moved toward products covering Ethereum, Solana, staking strategies, and other digital asset categories. The market is gradually evolving from a single-asset Bitcoin trade into a wider set of regulated crypto investment products.
Ethereum offers exposure to stablecoins, tokenized assets, decentralized finance, and Layer 2 settlement activity. Solana has developed a strong position in consumer applications, decentralized trading, and high-throughput payments. Separate ETFs would allow investors to express different views on the development of blockchain infrastructure without managing tokens or private keys directly.
The updated filings do not guarantee an immediate launch, and the SEC may request further amendments before allowing the products to begin trading. However, the inclusion of tickers, final-looking fee terms, and more detailed operational provisions often signals that an issuer is moving into the later stages of preparation.
If approved, MSSE and MSOL would deepen Morgan Stanley’s role in digital asset markets and intensify price competition among ETF issuers. The 0.14% fee could also establish a new benchmark for low-cost institutional access to proof-of-stake cryptocurrencies.
