Morgan Stanley Proposes 0.14% Fee for ETH and SOL ETFs

Morgan Stanley filed amended S-1 registration statements with the U.S. Securities and Exchange Commission on June 18 for proposed spot Ethereum and Solana exchange-traded funds. The filings list the tickers as MSSE for Ethereum and MSOL for Solana and set a 0.14% sponsor fee for each fund.

The amendments are the second revisions to applications first submitted in January. The 0.14% sponsor fee is below the lowest current fees in each market: a 0.15% fee for Grayscale’s Mini Ethereum Trust and a 0.19% fee for Franklin Templeton’s Solana ETF.

The documents name Figment Inc., Galaxy Blockchain Infrastructure LLC and Coinbase Canada Inc. as staking service providers. Morgan Stanley plans to stake a portion of the ether and Solana held by the funds to generate network rewards.

The filings state that 5% of staking rewards would be paid to staking service providers and custodians. Those payments would come from a share of staking rewards and not from the 0.14% sponsor fee, and staking would apply only to part of the funds’ holdings.

The amendments reflect ongoing correspondence between the issuer and the SEC; they do not guarantee fund approval.

Morgan Stanley launched a Morgan Stanley Bitcoin Trust in April with a 0.14% sponsor fee. By June 18 that trust had recorded $300.7 million in cumulative net inflows.

If approved, the Ethereum and Solana ETFs would hold spot assets and stake a portion of those assets under the operational and custodial arrangements described in the filings.