Morgan Stanley to charge 0.14% on Ether and Solana ETFs, claims "cheapest in US and world" 🏷️

Morgan Stanley has filed amended Form S-1 statements with the Securities and Exchange Commission for spot Ether and Solana exchange-traded funds, with each product carrying a sponsor fee of 0.14%. The filings, submitted Thursday, set Morgan Stanley below the current lowest-fee spot Ether (ETH) ETF, the Grayscale Ethereum Staking Mini ETF (ETH) at 0.15%, and below the Franklin Solana ETF (SOEZ), the cheapest spot Solana (SOL) ETF at 0.19%, according to Farside Investors. The updated documents mark the second time Morgan Stanley has amended its ETF filings since first filing in January, a step analysts typically read as a signal that approval is drawing closer.

The Ethereum product will be listed as the Morgan Stanley Ethereum Trust under the ticker "MSSE," and the Solana product will trade as the Morgan Stanley Solana Trust under "MSOL." Bloomberg ETF analyst Eric Balchunas said on X on Friday that the fees make them "the cheapest in [the] US and [the] world." If approved, the funds would become the 11th spot Ether ETF and the seventh spot Solana ETF to launch in the US.

The pricing mirrors the strategy Morgan Stanley used for its spot Bitcoin (BTC) ETF, which launched in April with a 0.14% fee, undercutting Grayscale's 0.15% on its mini Bitcoin ETF. That fund drew $30.6 million on its first day and has since accumulated $331 million in total inflows, surpassing funds from Invesco, Franklin Templeton and CoinShares that launched in January 2024.

The latest filings also name Figment, Galaxy Blockchain Infrastructure and Coinbase Canada as the staking service providers for each ETF, with each fund taking a 5% staking fee on the rewards earned by the product. Morgan Stanley has not announced a launch date for either fund, and the filings remain subject to SEC approval.