TL;DR:
The lowest fees in the market are the bet Morgan Stanley is making to break into an industry dominated by giants like BlackRock and Fidelity. The firm filed amendments to its S-1 forms with the Securities and Exchange Commission for two new spot crypto ETFs: one on Ethereum and another on Solana. Both funds will carry a management fee of 0.14%, the lowest ever recorded in the United States and globally for products of this type.
The lowest-cost spot Ethereum ETF in the U.S. market is the Grayscale Ethereum Staking Mini ETF, which charges 0.15%. In the Solana segment, Franklin Templeton’s Franklin Solana ETF offers 0.19%, according to data from Farside Investors. Morgan Stanley would undercut both with its new proposals.
This is not the first time Morgan Stanley has relied on this tactic. Its Bitcoin ETF, launched in April 2026 with a 0.14% fee, recorded inflows of $30.6 million on its first day of trading. Since then, the fund has accumulated total flows of around $331 million, outpacing competitors such as Invesco, Franklin Templeton and CoinShares, whose products were all launched in January 2024.
The second amendment to the S-1 forms is, in regulatory terms, a signal that the SEC may be close to approving the products. If approved, the Ethereum ETF would become the eleventh spot fund of this cryptocurrency in the U.S. market, while the Solana one would be the seventh.
The filings also reveal important operational details: Figment, Galaxy Blockchain Infrastructure and Coinbase Canada will provide staking services for both Morgan Stanley funds. The rewards earned will be subject to a 5% fee for that service. The Ethereum fund will trade under the ticker MSSE, and the Solana fund under MSOL.
