Morgan Stanley's Crypto ETFs Get NYSE Arca Approval Amid Market Weakness
Morgan Stanley has secured approval from NYSE Arca to list two spot crypto exchange-traded funds (ETFs) on its platform. The ETFs, which will trade under the MSOL and MSSE tickers, plan to stake part of their underlying assets and distribute most rewards to investors.
The proposed products are designed to offer traditional investors regulated exposure to Solana (SOL) and Ethereum (ETH) without requiring them to manage wallets, validators or private keys. The Morgan Stanley Ethereum ETF plans to stake between 50% and 80% of its ETH holdings through staking service providers such as Figment, Galaxy Blockchain and Coinbase Canada.
The approval arrives as both Solana and Ethereum attempt to recover from recent market weakness. Ethereum trades near $1,860 after its latest recovery attempt failed around the $1,950 to $2,000 region. A break above this level could allow ETH to test the $2,000 supply zone.
Solana, on the other hand, has gained about 7% over the past month and is trading near $76. The token's price targets $90 after ETF approval, with a confirmed move above the current resistance around $78 potentially strengthening the recovery.