Key Takeaways
- • Galaxy Digital (Nasdaq: GLXY) has been selected by Morgan Stanley Investment Management as one of three approved validators to power staking for two new ETPs: Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and Morgan Stanley Solana Trust (NYSE Arca: MSOL).
- • MSSE and MSOL intend to stake a portion of their ETH and SOL holdings through institutional validators and pass staking rewards to shareholders through regular distributions.
- • Galaxy's Onchain Infrastructure team ended 2Q26 with $2.8 billion in staked assets across Ethereum, Solana, and other proof-of-stake networks.
- • Morgan Stanley Investment Management, with $2 trillion in AUM or supervision as of June 30, 2026, cited Galaxy's proven institutional-scale infrastructure as the basis for the selection.
Summary
Galaxy announced on August 18, 2026 that Morgan Stanley Investment Management has selected it as one of the approved validators to power staking for two new digital asset exchange-traded products. Galaxy is one of three firms selected to support staking across the two products, according to the company's announcement.
The two products are the Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and the Morgan Stanley Solana Trust (NYSE Arca: MSOL). Both seek to track the performance of their underlying assets, ETH and SOL respectively. Each intends to stake a portion of its holdings through institutional validators, passing the resulting staking rewards to shareholders through regular distributions.
Steve Kurz, Global Co-Head of Digital Assets at Galaxy, said the two networks have different validator requirements, client bases and risk considerations, and that Morgan Stanley Investment Management evaluated Galaxy against each network separately and reached the same conclusion for both. Ally Wallace, Global Head of ETFs at Morgan Stanley Investment Management, said staking is a core component of the Ethereum and Solana ecosystems and that the firm is seeking to meet client demand while adhering to Morgan Stanley's standards, citing partners with a longstanding track record across both networks.
Galaxy's Onchain Infrastructure team ended 2Q26 with $2.8 billion in staked assets across Ethereum, Solana and other leading proof-of-stake networks, according to the release. The company said it continues to expand its validator and staking footprint across networks and asset managers. The announcement extends Galaxy's role as a staking provider to a growing list of major asset managers, and reflects a broader shift among banks and asset managers toward established institutional-scale infrastructure for digital assets. Galaxy Digital is also developing data center infrastructure for AI and HPC workloads, including its 1.6 GW Helios campus in Texas.
The two products are the Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and the Morgan Stanley Solana Trust (NYSE Arca: MSOL). Both seek to track the performance of their underlying assets, ETH and SOL respectively. Each intends to stake a portion of its holdings through institutional validators, passing the resulting staking rewards to shareholders through regular distributions.
Steve Kurz, Global Co-Head of Digital Assets at Galaxy, said the two networks have different validator requirements, client bases and risk considerations, and that Morgan Stanley Investment Management evaluated Galaxy against each network separately and reached the same conclusion for both. Ally Wallace, Global Head of ETFs at Morgan Stanley Investment Management, said staking is a core component of the Ethereum and Solana ecosystems and that the firm is seeking to meet client demand while adhering to Morgan Stanley's standards, citing partners with a longstanding track record across both networks.
Galaxy's Onchain Infrastructure team ended 2Q26 with $2.8 billion in staked assets across Ethereum, Solana and other leading proof-of-stake networks, according to the release. The company said it continues to expand its validator and staking footprint across networks and asset managers. The announcement extends Galaxy's role as a staking provider to a growing list of major asset managers, and reflects a broader shift among banks and asset managers toward established institutional-scale infrastructure for digital assets. Galaxy Digital is also developing data center infrastructure for AI and HPC workloads, including its 1.6 GW Helios campus in Texas.
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