The Nfts space continues to evolve rapidly, with recent developments highlighting both opportunities and challenges for market participants. Understanding these dynamics is essential for anyone following this sector.
Morgan Stanley has moved to claim the lowest fee position in two crypto ETF categories simultaneously, filing second-amended S-1 registration statements with the U.S. Securities and Exchange Commission for spot Ethereum and Solana funds that each carry a 0.14% annual sponsor fee. The filings, submitted on June 18, 2026, set 0.14% sponsor fees on the proposed spot Ethereum and Solana ETFs, the lowest disclosed rate in each US market.
Both funds will trade on NYSE Arca under tickers MSSE and MSOL. The move extends a consistent pricing playbook Morgan Stanley has applied across its crypto product lineup and puts direct fee pressure on incumbents in both markets. What the Filings Contain The two products, the Morgan Stanley Ethereum Trust (MSSE) and the Morgan Stanley Solana Trust (MSOL), are structured as grantor trusts that hold spot ETH and SOL directly.
The 0.14% sponsor fee is calculated on net asset value (NAV), accrues daily, and is paid monthly from trust assets. Investors see the fee reflected in the fund’s tracking performance rather than as a separate line-item charge. These are the second round of amendments for both filings, which were originally submitted in January 2026.
The June 18 filing marks the first time a specific fee was confirmed for either product; prior amendments in March and May added structural details like the proposed MSOL ticker and the staking component, but left the fee blank. Additional amendments typically indicate active dialogue between an issuer and the SEC and generally signal that a launch is approaching. Staking Built Into Both Products Beyond spot price exposure, both ETFs include staking provisions that make them yield-generating instruments rather than passive tracking vehicles.
Morgan Stanley’s filings direct 95% of staking rewards back to fund shareholders, with the remaining 5% allocated to named infrastructure providers: Figment Inc., Galaxy Blockchain Infrastructure LLC, and Coinbase Canada Inc. This structure effectively provides both ETFs with yield-enhanced spot exposure, which is particularly significant for Solana, where native on-chain staking yields are meaningfully higher than Ethereum’s. The filing also noted that staked ether remains exposed to slashing, the network penalty for validator faults, a risk disclosure regulators have been closely scrutinizing as staking mechanics become more common in ETF structures.
Fee Comparison: Below Every Existing Rival Grayscale’s Mini Ethereum Trust currently holds the lowest fee among Ethereum ETFs at 0.15%, while Franklin Templeton’s Solana ETF carries the lowest Solana fee at 0.19%. Morgan Stanley’s proposed 0.14% undercuts Grayscale by one basis point on Ethereum and Franklin Templeton by five basis points on Solana. Bloomberg ETF analyst Eric Balchunas described the pricing as the cheapest available for both asset classes in the US and globally.
One basis point may appear insignificant in isolation, but in the institutional ETF market it carries
As the Nfts landscape matures, stakeholders should monitor regulatory developments, technological advancements, and market sentiment. The intersection of these factors will likely shape the trajectory of the industry in the months ahead.
