Morgan Stanley filed for spot Solana and Ethereum funds. The staking provision is the catch.
Morgan Stanley wants NYSE Arca listings for both tokens, with staking baked in from day one. The SEC has never approved that inside a registered wrapper.
CryptoVibe Desk · solana · ethereum · etf
- →Morgan Stanley filed amended S-1s with the SEC for spot Solana (MSOL) and spot Ethereum (MSSE) trusts, both targeting NYSE Arca with BNY Mellon and Coinbase Custody as joint custodians.
- →Both filings include staking provisions, which the SEC stripped from Ethereum ETF applications in 2024, making these the first registered products to directly challenge that policy.
- →Watch whether SEC staff issues a deficiency letter requesting staking removal from either MSOL or MSSE before the filings go effective, likely before Q4 2026.
- S-1 → A registration document that a company or fund must file with the SEC before it can be sold to the public.
- Staking → Locking up cryptocurrency to help run the network in exchange for regular payments, similar to earning interest on a savings account.
- Registered wrapper → A regulated investment fund approved by the SEC, like an ETF, that holds an asset on behalf of investors.
Morgan Stanley filed S-1 amendments with the SEC for two new crypto funds. One tracks Solana, ticker MSOL. The other tracks Ethereum, ticker MSSE. Both are earmarked for listing on NYSE Arca.
BNY Mellon and Coinbase Custody are named as joint custodians on both products. The sponsor fee is 0.14%, per The Defiant. That matches the competitive end of the spot BTC ETF field, not premium pricing.
The staking provisions are new ground. Both filings include staking income. The SEC blocked staking inside registered wrappers when it approved Ethereum ETFs in 2024. Morgan Stanley is filing with staking included.
If the staking provisions survive SEC review, registered crypto funds officially become yield-bearing products. That has not happened before. If the SEC forces removal, the outcome looks like every prior Ethereum wrapper. Either way, this filing moves the staking question past theory.
The 0.14% fee signals Morgan Stanley is not positioning these as premium products. It is pricing to compete.
If you hold Solana or Ethereum, this changes both the demand picture and the yield picture. The number to watch is whether the staking provisions survive the comment-letter process.
The underlying S-1 amendments on SEC EDGAR are the authoritative source. Filing dates and effective dates were not confirmed at press time.
The SEC stripped staking from Ethereum ETFs in 2024 and never wrote a policy. That left a gap. Morgan Stanley just filed into it. Another deficiency letter buys time. It does not close the gap.
Whether SEC staff issues a deficiency letter requesting staking removal from either MSOL or MSSE before the filings go effective, likely before Q4 2026.
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