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Morgan Stanley Submits Revised ETF Applications for Ethereum and SOL, Disclosing Lowest Market Fees

On June 19, Morgan Stanley submitted revised filings for spot Ethereum and Solana ETFs, marking new progress in the review process following the approval of Bitcoin ETFs. The Wall Street investment bank filed updated S-1 registration statements for the two ETFs with the U.S. SEC on Thursday. This is the second update to the applications for the Ethereum and Solana ETFs originally submitted in January. The latest S-1 documents reveal that both ETFs will have an issuance fee rate set at 0.14%, making them the lowest fee products in the U.S. market for Ethereum and Solana ETFs. According to SoSoValue data, the current fee rate for Grayscale's mini Ethereum trust is 0.15%, the lowest in the Ethereum sector, while Franklin Templeton's Solana ETF SOEZ has a fee rate of 0.19%, the lowest in the Solana segment. The revised filings also disclose that Figment, Galaxy blockchain infrastructure company, and Canada’s Coinbase will serve as the staking service providers for the products. Morgan Stanley's upcoming ETH and SOL ETFs plan to stake a portion of their holdings to earn additional staking rewards. The documents specify that 5% of the staking earnings will be allocated as service fees for the staking service providers and custodians.

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