NYSE Arca approved Morgan Stanley's spot Ethereum and Solana ETFs to list and trade under the tickers MSSE and MSOL. Both filings turned auto-effective after the bank submitted 8-A and 424B3 forms with the SEC, and each fund carries a 0.14% fee.
Morgan Stanley gained approval to list and trade its spot Ethereum and Solana ETFs on NYSE Arca, clearing the path to launch both funds soon. The bank reached this stage after filing 8-A and other documents with the US SEC.
Ethereum ETF to trade as MSSE
NYSE Arca approved shares of Morgan Stanley's spot Ethereum ETF, which will list under the ticker MSSE. Morgan Stanley also filed a 424B3 with no details on the fee waiver, and the filing became auto-effective pursuant to Section 12(b) of the Exchange Act, pending a CERT filing for the trading date.
The fund will levy a sponsor fee of 0.14% and plans to stake 50-80% of its holdings through providers such as Figment, Galaxy Blockchain, and Coinbase Canada. Staking service providers and custodians will receive only 5% of the staking rewards, while Morgan Stanley Investment Management said it will not retain the rest, leaving higher earnings for investors. The Bank of New York Mellon and Coinbase Custody will serve as custodians for the fund.
Solana fund cleared as MSOL
Morgan Stanley filed the same 8-A and 424B3 forms for its spot Solana ETF, which NYSE Arca approved to list under the ticker MSOL. The fund will charge a 0.14% management fee. It plans to stake up to 100% of its SOL holdings through Figment, Galaxy Blockchain, and Coinbase Canada. Its reward-distribution mechanism matches the Ethereum fund, and its custodians and agents are similar to those of the Morgan Stanley Bitcoin ETF.
The approvals land as Morgan Stanley's brokerage E*TRADE finished rolling out spot Bitcoin, Ethereum, and Solana trading, letting clients buy, sell, and hold crypto in a linked Zerohash account. The firm's Bitcoin fund, MSBT, holds over $391 million in total assets. It drew $5 million in inflows in the latest session. Spot Bitcoin ETFs, by contrast, recorded $255.18 million in outflows.
Source: CoinGape
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