Morgan Stanley Seeks to Bring Staking Options to Ethereum and Solana Investors
Morgan Stanley has received approval to list and trade its Ethereum and Solana ETFs on NYSE Arca. The Wall Street giant submitted 8-A and other filings with the US SEC, paving the way for the launch of its spot Ethereum and Solana ETFs.
The Morgan Stanley Ethereum ETF will list and trade under the ticker symbol MSSE, while the Solana ETF will have the ticker MSOL. Both ETFs come with a 0.14% management fee.
Morgan Stanley plans to stake up to 80% of its Ethereum holdings and up to 100% of its Solana holdings through providers such as Figment, Galaxy Blockchain, and Coinbase Canada. The staking rewards distribution mechanism will see 95% of the rewards go to investors, with service providers and custodians receiving only 5%
The approval comes as Morgan Stanley's brokerage firm E*TRADE completed the rollout of spot Bitcoin, Ethereum, and Solana trading for its clients.