Morgan Stanley has updated its data on its Ether and Solana exchange-traded funds, revealing it plans to charge the lowest fees among its rivals.
Business filed changed On Thursday, file an S-1 statement with the Securities and Exchange Commission for each ETF, showing that it plans to undercut current market offerings and charge fees of 0.14% for each of its products.
Currently, the cheapest spot Ether ETF (ETH) in the US is the Grayscale Ethereum Staking Mini ETF (ETH) at 0.15%, while the Franklin Templeton Solana (SOL) spot ETF, Franklin Solana ETF (SOEZ), charges the lowest fee among its competitors at 0.19%. According to for investors from Farside.
This is the second time Morgan Stanley has updated its ETF filings since it first filed for ETFs in January, with changes typically signaling that the SEC is close to approval of trading products, ranking them 11th among Ether ETFs and seventh in the market for the Solana ETF to launch in the US.
Bloomberg ETF analyst Eric Balchunas sent to X on Friday that their fees make them “the cheapest in the country.” [the] USA and [the] world.”
Source: Eric Balchunas
Low fees have been a tactic for Morgan Stanley as it aims to make a late entry into the spot cryptocurrency ETF market dominated by issuers such as BlackRock and Fidelity. The Bitcoin (BTC) ETF launched in April set fees at 0.14%, which is below Grayscale’s 0.15% fee for the mini Bitcoin ETF.
Related: Grayscale HYPE ETF ‘likely soon’ as new update shows competitive fee: Analyst
This fee likely helped Morgan Stanley’s Bitcoin fund record a decent first-day inflow of $30.6 million. Since then, a total of $331 million has flowed into the ETF, outperforming the Invesco, Franklin Templeton and CoinShares ETFs that launched in January 2024.
Morgan Stanley’s latest filings also show that Figment, Galaxy Blockchain Infrastructure and Coinbase Canada will provide staking services for each of the ETFs, with each fund charging a staking fee of 5% of the product’s rewards.
The Ethereum ETF, called the Morgan Stanley Ethereum Trust, will be listed under the ticker “MSSE”, while the Solana ETF, called the Morgan Stanley Solana Trust, will be listed under MSOL.
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