Morgan Stanley files amended applications for spot Ethereum and Solana ETFs with rock-bottom fees
The Wall Street giant is undercutting every competitor with a 0.14% sponsor fee and built-in staking rewards for both proposed funds
Morgan Stanley has filed amended applications for its spot Ethereum and Solana exchange traded funds, moving both products closer to a potential launch following the debut of its Bitcoin ETF.
The Wall Street bank submitted second amended S-1 registration statements for both funds to the Securities and Exchange Commission on Thursday. The original applications were filed in January.
The latest filings disclosed annual sponsor fees of 0.14% for both products, which would make them the cheapest spot Ethereum and Solana ETFs in the US.
Grayscale’s Mini Ethereum Trust currently has the lowest fee among Ethereum ETFs at 0.15%, while Franklin Templeton’s SOEZ leads the Solana market with a 0.19% fee, according to SoSoValue.
The Ethereum fund is expected to trade under the ticker MSSE, while the Solana fund would use MSOL.
Both ETFs plan to stake a portion of their holdings to generate additional rewards. Figment, Galaxy Blockchain Infrastructure, and Coinbase Canada will serve as staking providers.
The filings said 5% of staking rewards will be allocated to staking providers and custodians, with the remainder retained by the funds.
The additional amendments suggest Morgan Stanley remains in active discussions with the SEC as it works toward launching both products.
Morgan Stanley filed the applications around the same time as its Morgan Stanley Bitcoin Trust, which launched in April with the same 0.14% sponsor fee.
The Bitcoin ETF has attracted $300.7 million in cumulative net inflows as of June 18.