Galaxy Joins Morgan Stanley in Staking Crypto ETPs

Galaxy has been chosen by Morgan Stanley's Investment Management as an approved validator to support staking for two new digital asset exchange-traded products (ETPs): Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust.

The ETPs, designed to track the prices of Ether and Solana, will pass staking rewards to shareholders. Galaxy is one of three providers selected to power staking for both products.

Morgan Stanley's Ally Wallace highlighted Galaxy's experience in supporting both Ethereum and Solana networks, noting that 'staking remains an important part of these networks.'

Galaxy currently manages $2.8 billion in assets staked across several proof-of-stake networks.