Svmuu News: On July 14, Morgan Stanley updated the S-1 registration statements for its proposed spot Ethereum and Solana ETFs, designating Coinbase as the custodian responsible for staking, with BNY Mellon serving as the joint custodian for both trusts.
Ethereum Under normal circumstances, the trusts plan to stake 50% to 80% of their ETH holdings, while the Solana trust may stake up to 100% of its SOL holdings, retaining a portion of liquidity for redemptions and fees. The staking service provider and custodian will share a 5% reward, with the remaining 95% going to the respective trusts.
Documents show that both funds have an annualized sponsor fee of 0.14%. The Ethereum product is expected to trade under the ticker symbol MSSE, while the Solana fund will be listed on NYSE Arca under the ticker symbol MSOL; the relevant applications are still pending approval by the U.S. Securities and Exchange Commission (SEC).