Morgan Stanley filed amended S-1 registration statements with the SEC on June 18, 2026, for 2 deliberate spot crypto ETFs, a spot Ethereum ETF and a spot Solana ETF, each carrying a 0.14% annual unitary sponsor charge, the bottom within the US marketplace for both asset class, in keeping with the filings.
The central query the submitting raises is: does a charge this low, paired with a 95% staking reward pass-through, successfully finish the crypto ETF charge struggle earlier than rivals have an opportunity to reply?
With Morgan Stanley getting nearer to approval for its spot ETH and SOL ETFs, the full crypto market cap dropped by -2.4% in a single day, falling to $2.23 trillion after being over $2.5 trillion lower than two weeks in the past.
What the Morgan Stanley SEC Filings Truly Say
The 2 merchandise are proposed beneath ticker symbols MSSE for the Ethereum ETF and MSOL for the Solana ETF, each focusing on an inventory on NYSE Arca.
The 0.14% charge is structured as a single cost; it accrues day by day on web asset worth and is paid month-to-month in money, with Morgan Stanley Funding Administration absorbing most extraordinary fund working bills from that single charge quite than stacking further fees on prime of it.
The staking mechanics are equally notable. A portion of every fund’s ETH and SOL holdings will likely be staked by way of three named suppliers: Figment, Galaxy Infrastructure LLC, and Coinbase Canada.
Of all staking rewards generated, 95% flows instantly again into the belief, boosting web asset worth for shareholders, whereas solely 5% is paid to these staking service suppliers. Morgan Stanley, as sponsor, collects no further minimize of staking earnings past its 0.14% administration charge.
These are the second spherical of amendments for each filings, which have been initially submitted in January 2026. The June 18 SEC submitting marks the primary time a selected charge 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 charge clean.
Morgan Stanley Ether and Solana ETFs nearing launch. The charge on every goes to be 14bps making them the most cost effective in U.S. and world. 🔥 https://t.co/8pLJIj8DI7
— Eric Balchunas (@EricBalchunas) June 19, 2026
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How This Reshapes the Crypto ETF Price Warfare
Context issues right here. Current US spot Ethereum ETF merchandise from issuers together with BlackRock and Constancy have typically proposed charges within the 0.20–0.30% vary.
On the Solana facet, Franklin Templeton’s SOEZ – one of many further-along Solana ETF filings – sits at 0.19%. Morgan Stanley’s 0.14% undercuts each benchmarks by a significant margin at this charge stage.
The Bitcoin ETF charge struggle of 2024 noticed BlackRock’s IBIT (0.25%) and Grayscale’s Bitcoin Mini Belief (0.15%) have interaction in rounds of cuts and momentary waivers to seize belongings beneath administration.
BlackRock has since added yield-bearing buildings to its Bitcoin ETF lineup to compete on greater than charges alone. Morgan Stanley is operating a distinct play: enter on the charge ground from day one and add staking yield on prime, making the all-in price case tougher to beat.
In a separate amended S-1 for its proposed Morgan Stanley Bitcoin Belief, the financial institution additionally set a 0.14% charge, which might undercut each Grayscale’s Bitcoin Mini Belief and BlackRock’s IBIT if accepted.
That product launched in April 2026, making the ETH and SOL filings the following part of what quantities to a coordinated, low-cost, multi-asset ETF stack. The SEC approval course of for related institutional merchandise has been progressing, as evidenced by latest approvals of crypto ETFs for institutional issuers.
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What Traders Ought to Watch For
Each the MSSE Ethereum ETF and the MSOL Solana ETF stay beneath SEC assessment with no confirmed launch dates. The submission of additional amendments is an indication of lively regulatory engagement, not approval. Buying and selling can not start till the S-1s are declared efficient and NYSE Arca receives approval of the rule change for every product.
The subsequent seen milestones are SEC remark responses and any NYSE Arca rule-change filings, which might sign the merchandise are shifting towards operational readiness.
The extra fast market impact could also be aggressive: whether or not BlackRock, Constancy, or Franklin Templeton revise their very own Ethereum or Solana ETF charge schedules downward in response to the 0.14% stage now set by Morgan Stanley.
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