Morgan Stanley Launches Ethereum and Solana ETFs...A Play for Lowest Fees

▲ Ethereum (ETH), Solana (SOL)/AI-generated image

Morgan Stanley (MS) has received approval for the listing of spot Ethereum (ETH) and Solana (SOL) ETFs and is now in the final stages of launching them.

According to cryptocurrency media outlet Coingape on July 24 (local time), Morgan Stanley submitted 8-A and 424B3 filings to the U.S. Securities and Exchange Commission (SEC). NYSE Arca has approved the listing and trading of spot Ethereum ETF and spot Solana ETF. The tickers for the two products are MSSE and MSOL, respectively.

The relevant documents automatically became effective under Section 12(b) of the U.S. Securities Exchange Act. The trading start date will be included in the CERT filing. Morgan Stanley also revised its delegated manager, Coinbase Prime, and custody and trading financial contracts for the Ethereum ETF.

The management fee for MSSE is 0.14%. Morgan Stanley plans to stake 50-80% of the Ethereum held by the ETF. Figment, Galaxy Blockchain, and Coinbase Canada will handle the staking. Service providers and custodians will receive 5% of the staking rewards.

The delegated manager, Morgan Stanley Investment Management, stated that it would not take the remaining staking rewards. The Bank of New York Mellon and Coinbase Custody are participating as custodians for MSSE.

The management fee for MSOL is also 0.14%. Morgan Stanley plans to stake up to 100% of the SOL held by the ETF. Its subsidiary brokerage firm, E*TRADE, has also launched spot trading services for Bitcoin (BTC), Ethereum, and Solana. Customers can buy, sell, or hold these three cryptocurrencies in accounts linked to Zerohash.

[Key Article Summary]

-Morgan Stanley's spot Ethereum and Solana ETFs have received listing approval from NYSE Arca.

-The management fees for both MSSE and MSOL are set at 0.14%.

-Morgan Stanley plans to stake 50-80% of its Ethereum holdings and up to 100% of its SOL holdings.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*