Key Takeaways:
Solana traded near $85 resistance on July 15 after Morgan Stanley filed an updated S-1 registration for a spot SOL exchange-traded fund with a 0.14% management fee.
"Launch likely getting pretty close," James Seyffart, Bloomberg ETF analyst, said on X following the filing.
The proposed fund, to list on NYSE Arca under the ticker MSOL, plans to stake up to 100% of its SOL holdings through Figment, Galaxy Blockchain and Coinbase Canada, according to the filing. Staking service providers and custodians will receive only 5% of staking rewards, with the remainder accruing to investors. The Bank of New York Mellon and Coinbase Custody will serve as custodians. Morgan Stanley's existing spot Bitcoin ETF, MSBT, holds over $357 million in total assets, with BTC holdings worth more than $379 million.
A spot Solana ETF from a traditional finance giant like Morgan Stanley represents a strong institutional endorsement for SOL, potentially opening the door for significant capital inflows. The token is currently testing a resistance zone between $76 and $85, and a successful breakout could push prices toward the $100 level.
Morgan Stanley also filed an amended S-1 for its spot Ethereum ETF, which will trade under the ticker MSSE with the same 0.14% fee. That fund plans to stake 50% to 80% of its ETH holdings through the same providers. The 0.14% fee for both products is among the lowest disclosed for crypto ETFs, indicating competitive pricing as Wall Street firms compete for market share in the digital asset space.
The filing follows Morgan Stanley's spot Bitcoin ETF debut earlier this year and signals the firm's deepening commitment to digital assets. If approved, the Solana ETF would be among the first spot SOL products from a major Wall Street bank, potentially setting a precedent for other large asset managers to follow.
This article is for informational purposes only and does not constitute investment advice.
