Morgan Stanley (NYSE:MS) filed amendments on Tuesday to its registration documents for exchange-traded funds tied to Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL).
Morgan Stanley Set To Launch New Crypto ETFs
The banking behemoth submitted amended S-1 filings for two funds: the Morgan Stanley Ethereum Trust ETF, to trade under the ticker MSSE, and the Morgan Stanley Solana Trust ETF, to trade under the ticker MSOL.
Both funds will have a management fee of 0.14%, with built-in staking capabilities. This means that apart from tracking the performance of the underlying asset, the ETFs would distribute staking rewards to their respective shareholders.
Bloomberg ETF analyst James Seyffart also highlighted the development, adding that the official launch is likely getting “pretty close.”
A New Wave After Bitcoin?
Note that Morgan Stanley already offers a spot Bitcoin ETF, the Morgan Stanley Bitcoin Trust ETF (NYSE:MSBT), which has drawn more than $380 million in net inflows since its April launch, according to SoSo Value.
The bank recommends Bitcoin allocations of 0%-2% in some portfolios and 2%-4% in more aggressive portfolios.
A so-called “Bitcoin Banking Adoption Index” developed by Strategy Inc. (NASDAQ:MSTR) lists Morgan Stanley with a score of 43%, placing it in the upper tier of financial institutions adopting Bitcoin.
Price Action: At the time of writing, ETH traded at $1,886.12, up 5.70% in the last 24 hours, according to data from Benzinga Pro. SOL traded up 4.19% at $78.28 on last check.
Morgan Stanley shares rose 1.68% in after-hours trading after closing 2.98% higher at $227.67 during Tuesday’s regular trading session. Year-to-date, the stock has rallied 28%.
Benzinga’s Edge Stock Rankings give MS stock a stronger price trend across short-, medium- and long-term periods, along with a superior Momentum score.
Photo by Taljat David via Shutterstock
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