Morgan Stanley files amended applications for spot Ethereum and Solana ETFs with rock-bottom fees

Morgan Stanley just submitted second-amended S-1 registration statements to the SEC for two new spot crypto funds: the Morgan Stanley Ethereum Trust (ticker MSSE) and the Morgan Stanley Solana Trust (ticker MSOL). Both carry an annual sponsor fee of 0.14%, which would make them the cheapest options in their respective categories.

The fee war heats up

Grayscale’s Mini Ethereum Trust currently charges 0.15%. Franklin Templeton’s Solana product sits at 0.19%. Morgan Stanley is shaving basis points off both.

The amended filings, dated around June 18, also revealed a staking structure for both trusts. Here’s how it works: 95% of all staking rewards generated by the funds’ holdings stay inside the trust, benefiting shareholders directly. The remaining 5% goes to staking infrastructure providers.

Those providers include Figment, Galaxy Blockchain Infrastructure, and Coinbase Canada.

A pattern, not a one-off

Morgan Stanley has been methodical about this rollout. The firm first filed S-1 registrations for Bitcoin, Ethereum, and Solana trusts back in January 2026. May 2026 amendments added the proposed ticker symbols but held back on fee disclosures. The June amendments finally put the pricing on the table.

The Bitcoin piece of the puzzle is already live. Morgan Stanley launched its Bitcoin Trust (MSBT) on NYSE Arca on April 8, 2026, carrying that same 0.14% fee.

What this means for investors

For Ethereum investors specifically, the MSSE trust would offer something that simply holding ETH in a standard spot ETF without staking does not: compounding returns on top of price appreciation. That 95% retention rate means shareholders capture nearly all the upside from Ethereum’s proof-of-stake consensus mechanism without having to manage validators or worry about slashing risks.

No specific launch date has been announced for either MSSE or MSOL. The SEC’s review process will determine timing, and there’s no guarantee of approval. But with the Bitcoin trust already trading and the amended filings now complete, Morgan Stanley has positioned itself to move quickly once regulatory clearance arrives.

A fund charging 0.14% but returning 95% of staking yield could effectively cost less than a zero-fee product that doesn’t stake.

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