Key Takeaways
- • Morgan Stanley filed amended S-1 registration statements with the SEC on June 18, 2026, for spot Ethereum and Solana ETFs priced at an industry-leading 0.14% sponsor fee, undercutting all existing competitors including Grayscale's Mini Ethereum Trust (0.15%) and Franklin Templeton's SOEZ (0.19%).
- • The Ethereum fund will trade under ticker MSSE and the Solana fund under MSOL; both filings represent the second round of amendments since original applications in January 2026, signaling active SEC engagement and progress toward launch.
- • Morgan Stanley named Figment Inc, Galaxy Blockchain Infrastructure LLC, and Coinbase Canada Inc as staking service providers, with 5% of staking rewards allocated to providers and custodians, enabling funds to generate incremental yield through cryptocurrency staking.
- • This move follows Morgan Stanley's Bitcoin ETF (MSBT) launch in April 2026, which similarly undercut competitors at 0.14% fees; as of June 18, 2026, MSBT had accumulated $300 million in assets, establishing the bank as an institutional-grade crypto ETF issuer.
- • Morgan Stanley's strategy positions the bank as the first major U.S. bank to issue spot cryptocurrency ETFs across Bitcoin, Ethereum, and Solana under its own name, expanding its crypto infrastructure buildout including custody and staking capabilities.
Summary
Morgan Stanley accelerated its institutional cryptocurrency product rollout on June 18, 2026, filing amended registration statements for spot Ethereum and Solana exchange-traded funds with the SEC. The amendments mark the second round of revisions to applications originally submitted in January 2026, reflecting substantive progress in regulatory review and product structuring. Both funds will carry a 0.14% sponsor fee—the lowest in the U.S. market for their respective asset classes and a deliberate competitive undercut against established players.
The fee structure positions Morgan Stanley's offerings as the industry's most cost-competitive options. Grayscale's Mini Ethereum Trust currently charges 0.15% for ETH exposure, while Franklin Templeton's SOEZ holds the lowest Solana ETF fee at 0.19%. By pricing at 0.14%, Morgan Stanley matches the fee it deployed when launching its Bitcoin ETF in April 2026, demonstrating a consistent low-cost positioning strategy across its crypto product suite. The Ethereum fund will trade under the ticker symbol MSSE and the Solana fund under MSOL.
A substantive feature of the amended filings is the introduction of named staking service providers: Figment Inc, Galaxy Blockchain Infrastructure LLC, and Coinbase Canada Inc. The staking infrastructure allows Morgan Stanley to generate additional returns by delegating a portion of fund holdings to network validators, with 5% of staking rewards flowing to service providers and custodians. This mechanism enables the funds to deliver incremental yield to investors beyond spot price appreciation, distinguishing the products in a competitive ETF landscape increasingly focused on yield generation.
Morgan Stanley's crypto ETF strategy extends beyond Ethereum and Solana. The bank's Bitcoin Trust (MSBT), filed concurrently with the ETH and SOL applications, launched in April 2026 and had accumulated $300 million in assets as of mid-June 2026. MSBT's 0.14% fee similarly undercut established spot Bitcoin ETF operators at launch, establishing Morgan Stanley as the first major U.S. bank to issue spot cryptocurrency ETFs under its own name. The three-product rollout reflects a broader institutional buildout that includes custody and trading infrastructure, positioning Morgan Stanley to capture market share across Bitcoin, Ethereum, and Solana exposure within the institutional and wealth management segments.
The fee structure positions Morgan Stanley's offerings as the industry's most cost-competitive options. Grayscale's Mini Ethereum Trust currently charges 0.15% for ETH exposure, while Franklin Templeton's SOEZ holds the lowest Solana ETF fee at 0.19%. By pricing at 0.14%, Morgan Stanley matches the fee it deployed when launching its Bitcoin ETF in April 2026, demonstrating a consistent low-cost positioning strategy across its crypto product suite. The Ethereum fund will trade under the ticker symbol MSSE and the Solana fund under MSOL.
A substantive feature of the amended filings is the introduction of named staking service providers: Figment Inc, Galaxy Blockchain Infrastructure LLC, and Coinbase Canada Inc. The staking infrastructure allows Morgan Stanley to generate additional returns by delegating a portion of fund holdings to network validators, with 5% of staking rewards flowing to service providers and custodians. This mechanism enables the funds to deliver incremental yield to investors beyond spot price appreciation, distinguishing the products in a competitive ETF landscape increasingly focused on yield generation.
Morgan Stanley's crypto ETF strategy extends beyond Ethereum and Solana. The bank's Bitcoin Trust (MSBT), filed concurrently with the ETH and SOL applications, launched in April 2026 and had accumulated $300 million in assets as of mid-June 2026. MSBT's 0.14% fee similarly undercut established spot Bitcoin ETF operators at launch, establishing Morgan Stanley as the first major U.S. bank to issue spot cryptocurrency ETFs under its own name. The three-product rollout reflects a broader institutional buildout that includes custody and trading infrastructure, positioning Morgan Stanley to capture market share across Bitcoin, Ethereum, and Solana exposure within the institutional and wealth management segments.
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