Morgan Stanley Unleashes Price War with 0.14% Crypto ETF Fees

Morgan Stanley has filed amended registration statements for proposed Ethereum (ETH) and Solana (SOL) ETF trusts, setting an annual delegated sponsor fee of 0.14%. This is a significant move in the crypto space as it positions these products as portfolio-building blocks alongside Bitcoin.

The ETH trust, expected to trade on NYSE Arca under the ticker MSSE, will track ether and staking rewards from a portion of its holdings. The SOL trust (MSOL) intends to stake up to 100% of its Solana holdings.

Morgan Stanley's proposed fees undercut major US competitors by at least one basis point. For example, BlackRock's iShares Ethereum Trust ETF carries a 0.25% sponsor fee, while Grayscale's mini Ether product sits at 0.15%. Bitwise's Solana staking ETF (BSOL) launched at 0.20%, and Franklin Templeton's Solana ETF (SOEZ) lists a 0.19% net expense ratio.

The proposed fees are not just about competing with other crypto products but also positioning for institutional allocation. Morgan Stanley's distribution reach across 42 countries, with approximately $1.8 trillion in assets under management or supervision as of September 30, 2025, means a low fee is a bid for advisor shelf space.