Morgan Stanley Files Amended Solana ETF Application With Staking Yield

The debut comes roughly two and a half years after the first U.S. spot bitcoin ETFs began trading in January 2024, turning digital assets into a mainstream product battleground for Wall Street. Morgan Stanley Investment Management is extending that playbook to ether and SOL, whose proof-of-stake networks can generate rewards alongside price exposure. Packaging both assets in exchange-traded trusts gives brokerage investors access without directly holding tokens, while pressuring established issuers to cut fees and share staking income.

Morgan Stanley launched the Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and Morgan Stanley Solana Trust (NYSE Arca: MSOL) on July 28, 2026, each with a 0.14% expense ratio. The funds plan to stake portions of their ETH and SOL holdings, with an anticipated 95% of rewards passed to shareholders and none retained by MSIM itself. The expansion follows the Morgan Stanley Bitcoin Trust (MSBT), launched on April 8; it had more than $381 million under management as of July 16.

The US spot-crypto ETF market is dominated by large issuers including BlackRock and Fidelity, making price a key weapon for late entrants. Morgan Stanley first filed in January 2026 to launch funds tracking Ether and Solana, offering investors regulated exposure to the two tokens. Approval by the US Securities and Exchange Commission would broaden the bank’s digital-asset lineup and intensify a fee war that has already pushed costs toward record lows.

Morgan Stanley submitted second amended S-1 registration statements on June 18, 2026, setting annual management fees at 0.14% for the Morgan Stanley Ethereum Trust, ticker MSSE, and the Morgan Stanley Solana Trust, ticker MSOL. That undercuts the 0.15% charged by the Grayscale Ethereum Staking Mini ETF and the 0.19% fee on Franklin Templeton’s Franklin Solana ETF. Bloomberg ETF analyst Eric Balchunas said the pricing would make the products the cheapest of their kind globally, signaling that SEC approval may be drawing closer.

Morgan Stanley, which manages about $1.9 trillion in assets, has applied to launch a spot bitcoin ETF with Coinbase Custody and Bank of New York Mellon (BNY Mellon) serving as joint custodians. The fund would be valued daily using the CoinDesk Bitcoin Benchmark Rate, reflecting major U.S. banks’ accelerating push into crypto assets.

Morgan Stanley has filed an amended S-1 with the U.S. SEC for the MSBT Bitcoin ETF, setting its management fee at 0.14%, 11 basis points below BlackRock’s comparable product. If it successfully completes the regulatory process, the fund is expected to list on a Wednesday in April and could reach customers through Morgan Stanley’s roughly 16,000 financial advisers.