Zero point fourteen percent. On June 18, 2026, Morgan Stanley filed updated amendments with the SEC for its spot ETF products on Ethereum and Solana, setting a fee that makes them the cheapest offerings in the US market across both categories. At 0.14% annually, Morgan Stanley undercuts every major competitor and signals that the fee war in crypto ETFs has entered a new phase.
The Fee War Heats Up
The two funds will trade on NYSE Arca under the tickers MSSE for Ethereum and MSOL for Solana. At 0.14%, they beat Grayscale's Mini Ethereum Trust, which charges 0.15%, and Franklin Templeton's Solana ETF at 0.19%, according to SEC filings. The move mirrors Morgan Stanley's April launch of its Bitcoin ETF (ticker: MSBT), which launched at the same 0.14% fee and has since gathered approximately $300.7 million in cumulative net flows through June 18, per Bloomberg data. When Wall Street's distribution muscle backs a rock-bottom fee, the whole category feels the pressure. That's the point.
NEW: @MorganStanley just filed amendments for both their Ethereum and Solana ETFS. ethereum:native solana:So11111111111111111111111111111111111111112 pic.twitter.com/SxPiszp9RS
— James Seyffart (@JSeyff) June 18, 2026
Not Just Price: Staking Enters the Picture
Functionally, the second competitive lever is staking. Both funds plan to stake a portion of their crypto holdings to generate additional yield, and the revenue split is explicitly investor-friendly. According to the S-1 amendment filed with the SEC on June 18, 2026, 95% of staking rewards stay in the fund and flow back to investors, with only 5% retained by service providers and custodians. Staking infrastructure will be provided by Figment, Galaxy Blockchain Infrastructure, and Coinbase Canada. Crucially, custodians will not hold the private keys of the staked assets, a design choice that reduces counterparty exposure.
How ETF Staking Rewards Are Split
Source: Morgan Stanley, S-1 amendment filed with the SEC, 2026
- Stays in the fund, benefiting investors, 95%
- Staking providers and custodians, 5%
The Risks, Spelled Out in the Filing
Morgan Stanley's S-1 amendment doesn't downplay the complications. Staked Ethereum is subject to slashing: validators who violate network rules or operate incorrectly can see a portion of their ETH deducted. There's also a queue problem. As of May 18, 2026, approximately 3.64 million ETH were waiting to be activated on validators, according to the filing. The network processes around 56 validators per epoch, or roughly 57,600 ETH per day, which translates to a wait of an estimated 63 days before freshly staked ETH begins generating returns. For Solana, the filing notes a similar dynamic without specifying a fixed daily cap.
What's Still Missing
Filing an amendment typically signals active dialogue between an issuer and the SEC's review staff, and that the process is moving forward. But no firm launch date has been set for either fund. Morgan Stanley is also being watched for a potential XRP ETF application, after disclosing holdings in existing XRP ETF products. The regulatory backdrop is supportive: the SEC approved BlackRock's Bitcoin Premium Income ETF on June 16, 2026, less than 48 hours before Morgan Stanley's latest filings. Investors can monitor the full documentation directly on SEC EDGAR and the Morgan Stanley official site. The direction is clear. Price is the weapon Morgan Stanley has chosen, and 0.14% is the opening shot.
