Morgan Stanley's Ethereum and Solana ETPs Partner with Galaxy for Staking

Morgan Stanley's new Ethereum and Solana exchange-traded products (ETPs) have taken a significant step in their development, partnering with Galaxy as an approved validator for staking. The two products, Morgan Stanley Ethereum Trust (MSSE) and Morgan Stanley Solana Trust (MSOL), will delegate a portion of their assets to institutional validators, passing on resulting staking rewards to shareholders through regular distributions.

The move marks a shift in the way institutional crypto products operate, moving beyond passive token exposure. This new structure introduces operational questions that don't arise with traditional token-holding products, such as downtime, operational errors, or protocol penalties faced by validators.

Galaxy was one of three firms selected to support staking across both products, which are currently trading on the NYSE Arca under MSSE and MSOL. The company has reported $2.8 billion in staked assets at the end of the second quarter of 2026 across Ethereum, Solana, and other proof-of-stake networks.

The partnership highlights the increasing complexity of institutional crypto products, with staking adding yield but also tying product performance to validator uptime, withdrawal mechanics, network rules, and reward treatment. The intended staking arrangements remain subject to governing documents and operational execution.