Morgan Stanley has filed updated S-1 documents with the U.S. Securities and Exchange Commission for its proposed Ethereum and Solana exchange-traded funds, setting a management fee of 0.14% for both products. The filing, made on Thursday, positions the bank to undercut existing spot ETF fees in both asset classes.
Fee structure and competition
The 0.14% fee is lower than the current cheapest spot Ethereum ETF, Grayscale Ethereum Staking Mini ETF at 0.15%, and the Franklin Solana ETF at 0.19%. Morgan Stanley's proposed trusts would charge no additional sponsor fees beyond the stated expense ratio.
Staking services and tickers
According to the filing, Figment, Galaxy Blockchain Infrastructure, and Coinbase Canada will provide staking services for both ETFs. Each fund will charge a 5% fee on staking rewards earned from the underlying assets. The Ethereum trust will trade under the ticker MSSE, while the Solana trust will use MSOL.