Morgan Stanley amended its ethereum and solana exchange-traded fund filings with the U.S. Securities and Exchange Commission to include a 0.14% management fee, positioning below Grayscale's 0.15% and Franklin Templeton's 0.19%. The pricing adjustment reflects intensifying competition as crypto ETFs transition from product novelty toward asset gathering, according to Brian Rudick, chief strategy officer at Solana treasury company Upexi, who stated on July 9 that issuers compete on price when products approach commodity status. Both proposed trusts would incorporate staking mechanisms and institutional custody through BNY and Coinbase, though no launch dates have been confirmed and shares cannot be sold until SEC registration statements become effective.
Morgan Stanley Sets 0.14% Fee for Ethereum and Solana ETF Filings
The firm recently amended both filings to include the 0.14% management fee, creating a narrow spread against competing products. Brian Rudick argued on July 9 that the fee matters less than what it signals about market development, stating that issuers do not compete on price until the product is close to a commodity and the fight is for share. He compared the situation to the fee compression spot bitcoin ETFs experienced.
Bitwise launched its solana ETF, BSOL, on NYSE Arca in October 2025, marking the first U.S.-listed vehicle to provide direct exposure to spot SOL. The fund actively stakes its holdings, allowing staking rewards to contribute to fund returns after applicable expenses. Rudick noted that SOL ETF assets under management already crossed $1 billion, led by Bitwise's BSOL, creating real market share to compete over.
Ethereum Trust Specifications Include 50-80% Staking Allocation
The Morgan Stanley Ethereum Trust would trade on NYSE Arca under the ticker MSSE and track the Coindesk Ether Benchmark 4PM NY Settlement Rate. Morgan Stanley Investment Management intends to stake 50% to 80% of the trust's ether under normal conditions alongside the proposed 0.14% fee.
BNY and Coinbase Custody would hold the ethereum trust's assets. Staking providers and custodians would receive an aggregate 5% of staking rewards, leaving the remainder with the trust. Net rewards would be distributed monthly, but at least quarterly, though the filing does not guarantee the amount.
Solana Trust Designed for Up to 100% Staking Participation
The Morgan Stanley Solana Trust would trade on NYSE Arca under the ticker MSOL and track the Coindesk Solana Benchmark 4PM NY Settlement Rate. The trust carries a proposed 0.14% fee and may stake up to 100% of its SOL while keeping some holdings unstaked for redemptions, expenses and distributions.
BNY and Coinbase Custody would serve as custodians for MSOL. Staking providers and custodians would receive 5% of staking rewards, leaving 95% with the trust. Net rewards would be distributed monthly, but at least quarterly, while validator block rewards and transaction fees would not accrue to shareholders.
Bitcoin ETF Reaches $364.23 Million in Assets Under Management
Morgan Stanley has already used the 0.14% fee level in its spot bitcoin product. The Morgan Stanley Bitcoin Trust began trading under the ticker MSBT on April 8, 2026, with a 0.14% annual management fee. That undercut Blackrock's IBIT at 0.25% and Bitwise's spot bitcoin ETF at 0.20%.
MSBT became the first proprietary spot cryptocurrency ETF launched under the name of a major U.S. commercial bank. As of July 10, 2026, it traded at $18.47 per share and held about $364.23 million in total net assets. Its debut ranked in the top 1% of ETF launches by volume and early adoption.
FAQ
How does Morgan Stanley's 0.14% fee compare to other crypto ETF providers?
Morgan Stanley's 0.14% management fee for its proposed ethereum and solana ETFs positions below Grayscale's 0.15% and Franklin Templeton's 0.19%. The firm used the same 0.14% fee for its Bitcoin Trust (MSBT), which undercut Blackrock's IBIT at 0.25% and Bitwise's spot bitcoin ETF at 0.20%.
What staking mechanisms are included in Morgan Stanley's ethereum and solana trusts?
The Ethereum Trust would stake 50% to 80% of its ether under normal conditions, with staking providers and custodians receiving 5% of staking rewards and the remainder going to the trust. The Solana Trust may stake up to 100% of its SOL while keeping some holdings unstaked for redemptions, with the same 5% allocation to providers and custodians and 95% to the trust. Net rewards would be distributed monthly, but at least quarterly.
When will Morgan Stanley's ethereum and solana ETFs launch?
No firm launch dates have been announced for the ethereum and solana ETFs. The proposed trusts remain preliminary, and shares cannot be sold until the SEC registration statements become effective. Both filings were recently amended to include the 0.14% management fee structure.
