Morgan Stanley Sets 0.14% Solana, Ether ETF Fee
Morgan Stanley refiled the cheapest US Solana and Ether ETFs at a 0.14% fee with staking. Here's what the MSOL push means for the SOL trade.
Wall Street's cheapest Solana wrapper
Morgan Stanley refiled amended S-1s with the SEC on June 18, and the headline number reset the field. Its planned Solana Trust (MSOL) and Ethereum Trust (MSSE) both carry a 0.14% unitary fee — the lowest sponsor fee on any US spot Solana or Ether ETF to date.
For context, Franklin Templeton's SOEZ had held the floor at 0.19%. Morgan Stanley doesn't just undercut it; it draws a new line that Bitwise, VanEck and Grayscale now have to answer.
Staking is the real trade
The fee grabs the headline, but the mechanics matter more. Both funds intend to stake a portion of holdings and keep 95% of the staking rewards inside the fund, naming Figment, Galaxy and Coinbase Canada as infrastructure partners.
For Solana that's a structural edge. SOL pays roughly 6-7% staking yield. A wrapper that captures that yield while charging just 14 basis points is mathematically more attractive to an allocator than holding spot — and that's exactly the institutional bid SOL has been missing. You get a yield-bearing vehicle that also sits at the cheap end of the table.
What it means for the tape
Don't front-run it. The filing is still under SEC review with no firm launch date, and SOL has barely twitched — desks aren't pricing approval yet.
But the direction is set. The fee war that gutted Bitcoin ETF economics in 2024 has reached the altcoins. Lower cost plus a staking yield lowers the barrier for pensions and RIAs that have steered clear of SOL. Near term, the catalyst is the SEC clock; over the medium term, the institutional Solana setup just shifted meaningfully higher.
If you trade SOL, watch two things: the SEC timeline, and whether the sister MSSE fund pulls the same institutional dollars toward ETH instead.