Morgan Stanley Files ETH and SOL ETF Amendments With 0.14% Sponsor Fee

Morgan Stanley filed second amendments on Thursday for its spot Ethereum (ETH) and Solana (SOL) exchange-traded fund applications with the Securities and Exchange Commission. The filings represent progress on both applications, which were originally submitted in January, following the Wall Street bank's recent bitcoin ETF debut. The amendments disclosed sponsor fees of 0.14% for both funds, the lowest rate in the U.S. Ethereum and Solana ETF markets.

Morgan Stanley Sets 0.14% Sponsor Fee for ETH and SOL ETFs

The latest S-1 filings revealed sponsor fees for both ETFs set at 0.14%. This fee rate would be the lowest in both Ethereum and Solana ETF markets in the U.S. Currently, Grayscale's Mini Ethereum Trust offers the lowest sponsor fee of 0.15%, while Franklin Templeton's SOEZ has the lowest among Solana ETFs at 0.19%, according to data from SoSoValue.

Figment, Galaxy, and Coinbase Canada Named as Staking Service Providers

The amendments revealed that Figment Inc., Galaxy Blockchain Infrastructure LLC, and Coinbase Canada, Inc., will serve as staking service providers for the funds. Morgan Stanley's upcoming ETH and SOL ETFs plan to stake a portion of their held assets to generate additional rewards. A 5% staking fee will be allotted to staking service providers and custodians, the filing said.

ETH and SOL Funds to Trade Under MSSE and MSOL Tickers

The Ethereum fund is expected to trade under ticker symbol MSSE, and the Solana fund under MSOL. The disclosure of additional amendments to the ETF applications typically reflects active communication with the SEC and progress in the launch process.

Morgan Stanley Bitcoin Trust Draws $300.7 Million Since April Launch

Morgan Stanley Bitcoin Trust (MSBT), filed around the same time as the firm's ETH and SOL ETFs, successfully launched in April, benefiting from its 0.14% sponsor fee that undercut established spot bitcoin funds. As of June 18, MSBT has drawn in $300.7 million in cumulative net inflows.

FAQ

What sponsor fee did Morgan Stanley set for its ETH and SOL ETFs? Morgan Stanley set a sponsor fee of 0.14% for both its Ethereum and Solana ETFs, the lowest rate in the U.S. market for both asset classes.

Who will provide staking services for Morgan Stanley's ETH and SOL ETFs? Figment Inc., Galaxy Blockchain Infrastructure LLC, and Coinbase Canada, Inc., will serve as staking service providers. The funds plan to stake a portion of held assets, with a 5% staking fee allocated to providers and custodians.