Morgan Stanley has moved to assert the bottom price place in two crypto ETF classes concurrently, submitting second-amended S-1 registration statements with the U.S. Securities and Alternate Fee for spot Ethereum and Solana funds that every carry a 0.14% annual sponsor price. The filings, submitted on June 18, 2026, set 0.14% sponsor charges on the proposed spot Ethereum and Solana ETFs — the bottom disclosed price in every US market. Each funds will commerce on NYSE Arca beneath tickers MSSE and MSOL.
The transfer extends a constant pricing playbook Morgan Stanley has utilized throughout its crypto product lineup and places direct price stress on incumbents in each markets.
What the Filings Comprise
The 2 merchandise — the Morgan Stanley Ethereum Belief (MSSE) and the Morgan Stanley Solana Belief (MSOL) — are structured as grantor trusts that maintain spot ETH and SOL straight. The 0.14% sponsor price is calculated on web asset worth (NAV), accrues each day, and is paid month-to-month from belief property. Buyers see the price mirrored within the fund’s monitoring efficiency reasonably than as a separate line-item cost.
These are the second spherical of amendments for each filings, which have been initially submitted in January 2026. The June 18 submitting marks the primary time a selected price was confirmed for both product; prior amendments in March and Could added structural particulars just like the proposed MSOL ticker and the staking part, however left the price clean. Extra amendments usually point out energetic dialogue between an issuer and the SEC and usually sign {that a} launch is approaching.
Staking Constructed Into Each Merchandise
Past spot value publicity, each ETFs embrace staking provisions that make them yield-generating devices reasonably than passive monitoring automobiles. Morgan Stanley’s filings direct 95% of staking rewards again to fund shareholders, with the remaining 5% allotted to named infrastructure suppliers: Figment Inc., Galaxy Blockchain Infrastructure LLC, and Coinbase Canada Inc. This construction successfully gives each ETFs with yield-enhanced spot publicity, which is especially vital for Solana, the place native on-chain staking yields are meaningfully greater than Ethereum’s.
The submitting additionally famous that staked ether stays uncovered to slashing — the community penalty for validator faults — a danger disclosure regulators have been intently scrutinizing as staking mechanics turn out to be extra frequent in ETF constructions.
Payment Comparability: Beneath Each Present Rival
Grayscale’s Mini Ethereum Belief at present holds the bottom price amongst Ethereum ETFs at 0.15%, whereas Franklin Templeton’s Solana ETF carries the bottom Solana price at 0.19%. Morgan Stanley’s proposed 0.14% undercuts Grayscale by one foundation level on Ethereum and Franklin Templeton by 5 foundation factors on Solana. Bloomberg ETF analyst Eric Balchunas described the pricing as the most cost effective obtainable for each asset lessons within the US and globally.
One foundation level might seem insignificant in isolation, however within the institutional ETF promote it carries actual weight. Payment-sensitive allocators working beneath return mandates or value caps systematically favour the most cost effective equal product, and a worldwide price report creates a advertising and marketing anchor that pulls property whatever the magnitude of the distinction.
Present US spot Ethereum ETF merchandise from issuers together with BlackRock and Constancy have typically proposed charges within the 0.20–0.30% vary, which means Morgan Stanley’s MSSE would undercut the broader Ethereum ETF discipline by a wider margin nonetheless.
The Bitcoin Playbook, Utilized Once more
Morgan Stanley’s MSBT launched on April 8, 2026, as the primary spot Bitcoin ETF from a serious US financial institution, pulling in over $100 million in its first eight days totally from self-directed shoppers. MSBT costs 0.14% yearly, the bottom price of any Bitcoin ETF in the marketplace, undercutting BlackRock’s IBIT at 0.25%, Grayscale’s Bitcoin Mini Belief at 0.15%, and Bitwise at 0.20%.
Inside its first month, MSBT attracted $193.6 million in complete inflows with zero outflows throughout that total interval. The early efficiency validated the pricing technique: late market entry offset by aggressive price positioning captured significant share from incumbents. Morgan Stanley is making use of that very same logic to Ethereum and Solana, coming into every market after different issuers have established merchandise however doing so at a price degree no present fund matches.
Morgan Stanley Bitcoin Belief Worth Efficiency (Supply: Morgan Stanley)
Market Place and Approval Outlook
If permitted, MSSE would turn out to be a brand new entrant in a longtime Ethereum ETF market, and MSOL would be a part of the Solana ETF class. The second modification standing of each filings is a significant procedural sign. S-1 amendments at this stage usually mirror an issuer and the SEC working by way of closing structural questions — on this case, primarily round staking mechanics, the 5% supplier price allocation, and custody preparations.
Morgan Stanley oversees $9.3 trillion in complete consumer property throughout 16,000 monetary advisors, a distribution community that no pure asset supervisor can replicate. If MSSE and MSOL obtain approval and are made obtainable to advisors on Morgan Stanley’s wealth administration platform — one thing MSBT was not throughout its preliminary weeks — the potential influx base expands considerably past what price management alone would drive.
Broader Context: Payment Competitors Intensifies
The MSSE and MSOL filings arrive because the crypto ETF market continues to increase quickly. The price battle that started within the Bitcoin ETF class following the January 2024 spot BTC approvals is now enjoying out on a second entrance throughout Ethereum and Solana concurrently. Issuers that entered the Ethereum ETF market in mid-2024 and the Solana ETF market extra not too long ago now face direct stress to both reduce charges or differentiate on different dimensions — staking yield, liquidity, or model.
For traders, Morgan Stanley’s filings signify two merchandise that mix the bottom obtainable price in every class with built-in staking yield, delivered by way of a regulated brokerage account wrapper. Approval timelines stay topic to SEC overview, however the structural route is obvious: the price of crypto ETF publicity is continuous to fall, and Morgan Stanley is main that compression.
