Solana news: Morgan Stanley Amends ETH and SOL ETF Filings, Sets Market-Low Fees
Morgan Stanley Updates ETH and SOL ETF Applications
Morgan Stanley has submitted amended filings for its spot Ethereum (ETH) and Solana (SOL) exchange-traded funds (ETFs) to the US Securities and Exchange Commission (SEC). These amendments mark the second update since the original applications in January, reflecting ongoing engagement with regulators.
Lowest Sponsor Fees in the Market
The latest filings reveal a sponsor fee of 0.14% for both ETFs, undercutting current market leaders. For comparison, Grayscale's Mini Ethereum Trust charges 0.15%, and Franklin Templeton's SOEZ Solana ETF charges 0.19%. Lower fees may attract greater institutional and retail interest.
Staking Component and Service Providers
Morgan Stanley's ETFs plan to stake a portion of their assets to generate additional rewards. Figment Inc., Galaxy Blockchain Infrastructure LLC, and Coinbase Canada, Inc. are named as staking service providers. A 5% staking fee will be allocated to these providers and custodians.
Progress Towards Launch
The Ethereum ETF is expected to trade under the ticker MSSE, and the Solana ETF under MSOL. The disclosure of further amendments typically signals progress in the SEC review process. Morgan Stanley's Bitcoin ETF, launched in April, has already attracted over $300 million in net inflows, partly due to its competitive fee structure.
Why This Matters for the UK
While these ETFs are US-based, their competitive fee structure and staking features may set new standards for crypto investment products globally. UK investors and institutions monitoring Solana's growing ETF presence may find these developments relevant as the UK explores its own regulatory approach to digital asset funds.
